Goodluck trying to raise capital in this market for minnow iron...

Goodluck trying to raise capital in this market for minnow iron ore players

BHP Billiton and Fortescue Metals have applied for permits to add about 50 million iron ore tonnes to an already over-supplied global market as prices fell to new record lows.
Iron ore giants including BHP and Rio Tinto are being accused of increasingly angering shareholders and deliberately foregoing earnings by flooding the market.
Spot iron ore prices to the port of Tianjin in China fell to $US51 a tonne, which could be below Fortescue's breakeven price and is a record low since prices started being tracked in 2008.


http://www.heraldsun.com.au/busines...th-more-iron-ore/story-fnn9c0hb-1227288101655