Iron Ore: How Can We Profit From The Folly lets see uk .communifin .com/group/rio-tinto/post/1622.htm
my God but that is one of the craziest websites you'll ever come across. I'm still amazed that so many people do not realize that it's a host forum, a bit like Twitter, and NOT some kind of ratings agency in its own right. Within the last two days it's put out stuff like "RIO, BHP, ANTO heading for Huge Crash", followed an hour later by rave reviews that anyone who hasn't got RIO in their pension fund is heading for an old age of misery. But I like to think that today's flyer takes the ship's biscuit. It foretells a possible takeover under consideration of RIO by Glencore. After racking my brains as to where the hell Glencore would come up with the readies to buy an outfit with a turnover bigger than two thirds of this planet's countries I moved on to thinking of a motive. I was under the impression that Glencore was in internal turmoil at the moment. I'm trying to imagine the reception of a latecomer at a Glencore boardroom meeting: " I'm sorry I'm a tad late, Ladies, Gentlemen, but I've just been stuck on the old dog and bone with one of the RIO directors to see if he'll give me a price off the top of his head for the whole outfit. Says he'll get back to me.....Now, where were we..?"
#RIO is super six
Just read an article regarding RIO in The Times newspaper super six investments (AGA(UK), RPC(EU), UNP(US), BG(LATIN), VEDANTA(INDIA), RIO(CHINA); RIO. More than a third (35%) of Brit_Aust mining sales are to China and is well balanced there. Recent statements indicate a continued focus on its iron ore (50% of revenue). Prices have fallen on slowing steel demand, but bullish analysts say that the british firms lower output costs offset this. The miner went from a loss in 2012, to net profit in 2013 of $3.7bn, by cost-cutting measures and significant lower aSSet writedowns and reduced capital spending. The company is working to cash in on China's appetite for diamonds, marketing stones to super-rich.
12 Sep '14
Not yet, they're not. Considering all the negative news that's been streaming out about the big miner's, Eurozone slowdowns, China coolings off etc., this shareprice hasn't really taken a big tumble for a couple of weeks now. The last time all this stuff was in the news we were a couple of quid worse than this. What's really annoying is the effort that this share makes every day to pull itself up a bit only to get knocked back during the afternoon. I wish I understood the dynamics behind that one. It's like watching a student on a climbing wall; every visit he tries this desperate route, gets up to the same tough move and, just when he thinks he's up, up and away....off he flies.
1 Sep '14
Worth a read...
Good article: http://www.fool.co.uk/investing/2014/08/29/china-concerns-hurt-rio-tinto-plc-bhp-billiton-plc-glencore-plc/
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