Id say there will be a few more iron ore deposits/companies with a for sale sign out the front in coming months. Still no bottom for the Iron Ore price which has had a spectacular fall over the last few months. Legacy are probably better off still in explorer stage than being a producer as a lot of higher costs producers wont survive the current climate. The Yilgarn is a higher cost area than the Pilbara so it will take a considerable recovery in iron ore prices to make the region economic again. Its hard to know how long that will take with prices in free fall and ever increasing supply coming onto the market and a number of large scale projects still to come on line in coming months.
LCY Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
