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Thanks @Nick. I'd say using that graph to look at the trends is probably OK! Though from the trends on that graph I'm not sure how you concluded it was heading south? It looks to be heading North again :-))
https://www.marketindex.com.au/iron-ore
From what I can tell it's based on the cmegroup's futures:
"Market Index tracks the industry standard NYMEX traded 62% Fe, CFR China in $US/metric tonne."
https://www.cmegroup.com/company/nymex.html
https://www.cmegroup.com/trading/metals/ferrous/iron-ore-62pct-fe-cfr-china-tsi-swap-futures_quotes_globex.html
I don't know the exact weighting. Anyway, probably not a good idea to try to compare absolute values between markets/indices/websites. For example, Custeel was reporting a spot of $130 mid September, but that graph only got as high as $121 - since it's likely based on futures.
I hope that helps,
Ob.
bannor/ &all were l went wrong is l never sold down my top up" l brought a few weeks before what a div.
I have a quick check at this website each day, is this not a reliable source or a different grade?
It says $116 at the end of play last night
https://www.marketindex.com.au/iron-ore
@Nick2151: "Iron ore price seems to be heading south, hope we havnt misses the boat again (excuse the pun)"
What makes you say that? Where is your source? From what I can see prices are heading back up again after a little dip:
http://www.custeel.com/en/csi.jsp
===[
Date Seaborne index 62% Fe fines Seaborne index 65% Fe fines
2020-10-30 118.20 129.90
2020-10-29 116.10 129.40
2020-10-28 116.80 130.90
2020-10-27 115.70 129.80
2020-10-26 115.10 129.20
2020-10-23 115.60 129.40
2020-10-22 120.00 133.40
]===
And Friday's DCE evening session, which is classed as part of Monday's day session is around 1% up.
Iron ore price seems to be heading south, hope we havnt misses the boat again (excuse the pun)
@Bannor - I know you can fight your wars :). It was more so that what happened is not diluted. To anyone not following this board, it may give a different perspective so thought I should put my point across.
LoL ... I don't need defending cause but thank you, the only way Lithium gets any reward here is by goading others to respond or engage with it...I've tried to tell you he really isn't worth the time or effort but if you feel you must you must, but I really would take anything it says with a pinch of salt.
@legalease to be blunt if you'd been in here the last few years you'd have found me being one of the most anti BoD apparently negative (in many people's views) posters here & none of the history or my views on it has changed.... I'm positive about Amapa as much because of the way this particular deal/project 'appears' to have been structured as its potential .. so being negative really is no indicator of holding shares or not.
I can pick two-three companies that I've had on my radar over the last 6-9 months that have multi-bagged and now I'm holding here with some regret - when will I learn.
Good job I didn't invest in the disasters that I conveniently forgot about - the human mind is amazing - don't think about pink elephants. Doh!
I don't think anyone being blamed here is liable to be blamed. There was a lot of coincidences, the ruling, the ship timing, the amount being shipped to get a lot of people excited including myself.
Also, by the time the SP was in 12s, there was adequate information on this board for those taking their time read to make up their own mind.
I personally thought there was a chance that this could work out. I didn't buy into the rise as I had bought a small amount in 10s at the beginning of the month and the buy price at that time wasn't really in my range. I have enough shares where I'd be happy with the profits if it hits my targets (though I am likely to add if buying price is within my target range). I didn't sell either because the potential upside to the speculation being true outweighed the downside (locked out of the rise vs losing an opportunity to reduxe my averages without spending more money and in the process shift my holding from HL or IG) as I still believe there is a good probability of amapa working out (as does Mr.Lithium I think).
Of course with hindsight, I could have reduced my average by selling and buying back on the way down but I didn't expect to see 11s (although it is only an opportunity lost and the rise on speculation only reiterates the belief that if and when the news comes there will be significant interest to make this whole situation look silly)
Yes, the drop is annoying. But the excitement was out of a lot of genuine coincidences. There was a lot of things adding up. There was a lot of positivity and in most cases I didn't see an agenda behind it. They were from information that positively aligned to it being Dev's ore. It's not like anyone doctored the information to create a false narrative.
I just don't think it is fair to blame @Bannor.
The people who annoy me are those who intentionally twist facts such as say on twitter that KDNC owns 30% of Yangibana and assign 30% of Yangibana's valuation to KDNC and say why is KDNC so undervalued. That gets on my nerves.
sounds about right, the deal can happen at any moment, and everyday that passes means the likelihood of the deal being signed the next day increases.
MB but at least you're grown up enough to deal with it rather than spit bile everywhere huh :-))
MD ... of course you should & why wouldn't you ..... big tick & gratitude from me for doing so & letting us know.... clearly we need to/can rely on each other (well some of us at least)to deliver relevant info more than we can the BoD (quel surprise) whether that detail supports positive or negative thoughts or considerations........ might 've been prudent to sell first & buy back on the drop though eh .... if only AIM was that predictable LoL
Gawd Ban, just got a bit of sicky in the back of my throat.
l wish l hadn't yaped yesterday l should of kept stum
indeed Iamrich the contract could be finalised & announced anytime from now to the end of the year, however don't forget that announcement came with a statement indicating that the courts would be petitioned jointly to allow shipments by removing the banks objection, unfortunately the higher court ruled that lower courts ruling to permit shipments was announced the day before a booking for an iron ore ship showed up on the Santana port schedule.... hence the BUZZ over whether it was for DEVS ore, nobody guaranteed it & it was never proven/indicated otherswise until YapYap noticed the post on the ports facebook page (well done MD :-))
if others did not read, accept or understand the caveats that most posters included, then hopefully a lesson has been learnt & in the future people will conduct their own research, make up their own minds & invest/buy/sell accordingly without throwing blame elsewhere.
i agree that the speculation should have been addressed by the BoD but it wasn't & additionally we don't yet know who bought Vila Nova or whose Been appointed as shipper & broker for DEVS ore.
from other posts I assume the Bi-polar brat has got nappy rash again (usually happens when the SP falls & he gets the gripes over his 'paper' losses) & is busy berating & blaming anyone who thought that in the absence of evidence otherwise the Xin may have been for DEVs ore.... personally I'd take more notice & put more credence by what's in its nappy than it's written.
I would think next week this will recover and may see some large buys due to the current bargain share price, The 20% AMAPA ownership will be huge news and a company changer, Not to forget they will continue to buy more shares up to 49%
DEV Mineração S.A's ("DEV"), Cadence and Indo Sino Pty Ltd ("the Investors") have agreed in principle to the settlement terms proposed by the secured bank creditors ("Bank Creditors"), and the administrator appointed to the Judicial Recovery Process ("JRP") has asked the parties to prepare and submit the final contract so that the JRP parties can be informed.
So If you look at the above from the 2nd September, Finalising then submitting this to the Judicial Administrators should take about 30 days I would say as that will be signed off by all parties including the creditors the bank,
Then The Judicial Administrators will fine check it to see if all is proper then put their legal stamp on it and release the monies in escrow with permissions from KDNC to the creditors/Bank, Again this will take a month if not longer depending how these administrators work or if any questions arise from it,
So It hasnt taken ages its about right, So from Monday onwards this could land any day but again the whole process could take up to 3 months if there are any issues that need rectifying, But as its a agreement between the bank and the parties there should not be any other issues as they have already agreed in principle to the Banks terms
This is happening and its just a matter of time,