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An the longest serving Vale Director he did a runner last week...

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ozexplorer

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21/11/14

08:43

Post #: 14327474
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Originally posted by moorookamick ↑

Vale has recorded a loss in the Sept QTR (see below) and IO prices
have dropped further since then.

"Oct 30 (Reuters) - Vale posted a surprise $1.44 billion loss, and its shares tumbled to a 5-1/2-year low as investors worried about the cost of the Brazilian miner's expansion plans and a possible cut to its dividend in a new era of lower iron ore prices. Vale SA cited low iron ore prices and a weak local currency for the third-quarter loss. A Reuters poll of seven analysts had forecast quarterly net profit of $956 million. A year earlier, Vale had a net profit of $3.5 billion." (Source; uk reuters.com).

Given the Vale is the world's biggest IO producer and that its costs are lower than ours with exception of BHP & RIO, it will be interesting to see how FMG, AGO, MGX & BCI travel during this current Qtr.
My guess is that they will be in the red.
Cheers
Moorookamick

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An the longest serving Vale Director he did a runner last week from the company. Seems he did not like the way things were panning out for the company.
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