Iron Ore rally, page-22

I'm worried about you Chaddy - you've been talking to yourself for almost a month! So I'll throw in my 2c worth.

I think a lot of people have lost interest and moved on from Amex (both on this forum and in the market). There are lots of great opportunities out there in resource sector at the moment, as interest is rekindled in the sector after a 5 year absence, especially in lithium and gold. I'm not sure Amex really rates a mention any longer? It's all taken too long and it's now the wrong commodity, wrong place and wrong time.

Management have continually set timelines and failed to keep them, leaving a lot of investors wondering what is going on, if anything? Construction was supposed to start in March, and we're nearly at the end of June. The money they gave the Chinese to build the project two years ago ($21 million was it?) appears to be gone - fat chance of getting that back!!

$7+ a share? That's a long way from the current sp and, as you've rightly pointed out, not a lot of support to help it get there. These guys dropped the ball a long time ago, and (despite my high hopes for them) it would appear they have no idea how to pick it up??

Speaking recently with a broker about iron ore companies, I asked about Amex he simply chuckled and said "...there's more than a few holes in their story and now they've missed the boat".

PS. The same broker also educated me in the pricing for the 'Amex iron ore'. Apparently you can't use the 'common' iron ore price, that applies to a 62% hematite product. The iron ore from Fiji is apparently most likely to be a 58% (at best) fine magnetite product which attracts a healthy discount (10-20%) due massive oversupply in the market by FMG, who sell a hematite product! So rather than being US$50 it's actually US$40-45 a tonne, at best. Ouch!