With iron ore spot price being crucified on the markets at the moment, I'm not sure what's keeping the IOH share price above 90c right now. Just have a look at AGO they are being severely re-rated and they have $400 mill in the bank, no debt, port allocation & already producing at 6Mt p/a. Even RIO are down almost $3 in three trading days.
It's only a matter of time until IOH takes another hit at this rate.
If the iron ore price falls much further then I would suggest the trucking/barge operation out of Bungaroo would no longer be a viable option and a continued Fe price fall would also put the FMG Iron Valley deal in jeopardy.
Bad time for iron ore juniors right now, let's hope the Fe spot price can halt this decline and recover promptly.
IOH Price at posting:
93.0¢ Sentiment: Hold Disclosure: Held
