approaching cash backing

this is looking amazingly cheap now...

not far from cash backing and 1.6 billion tonnes of Iron ore soon to be up for sale to FMG, RIO, AQA etc...

fosters had $2.80 target which even if 50% wrong makes 85c seem ridiculous.

all sentiment, no logic at the moment. IOH should use cash to buy up some bargains - the trunaround in chinese growth will open some cheque books i beleive. but what is Mr stokes up to?

good luck all...