The knifing of their IO price target indicates they have no...

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practisingaccountant

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11/11/14

10:28

Post #: 14267911
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Originally posted by JID ↑

For those interested this has just appeared on macrobusiness.com.au.

(Just posting because a tipsheet I follow has just recommended MGX and I follow iron ore as a potential driver of lower AUD which is important to a sector I do like LT; gold miners)

Cheers
John
Citi cuts iron ore forecast below $60!

Posted by Houses and Holes in Commodities, Iron ore priceat 8:56am on November 11, 2014 | 3 comments

Not much to go on except a quick Bloomie headline: CITIGROUP CUTS 2015 IRON ORE PRICE EST. TO $65/T VS $80/T, SAYS IRON ORE PRICES MAY FALL BELOW $60/TON Finally some sanity! RBC has also just cut but not enough: After a sharper-than-expected slide in iron-ore prices, RBC Capital Markets has taken a knife to its forecasts for the next couple of years. It lowers its 2015 average price estimate to US$85/ton from US$100/ton. It also cuts its 2016 forecast to US$85/ton and trims its 2017 forecast to US$80/ton, both from US$95/ton previously. The broker says it expects supply of the bulk commodity to...

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The knifing of their IO price target indicates they have no flipping idea of what the price will be. If they were wrong with their price estimate initially what makes them right now?

BCI Price at posting: 87.0¢ Sentiment: None Disclosure: Not Held

AGO Price at posting: 25.2¢ Sentiment: None Disclosure: Held

FMG Price at posting: $3.06 Sentiment: None Disclosure: Held

MGX Price at posting: 43.5¢ Sentiment: None Disclosure: Held
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First 88 Last

The knifing of their IO price target indicates they have no...

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The knifing of their IO price target indicates they have no...

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