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They have found it , did well to track it down .
Going forward will have to tighten up handling and storage procedures .
…. so goes the year.
And, like it or not, the maxims from Wall Street and the City are right more often that wrong. Right now, I am almost fully invested and need to keep a little back to max out ISA holdings in April.
With Chinas recent reverse of Covid strategy, I feel that this augers well for another 3 years holding RIO and enjoying the mining super-cycle that investors noted a few years ago. Of course there will be down days and perhaps some sharp movements. I will next comment on this board when I begin to reduce my holding.
Good luck to all.
Good morning, iron ore futures rose US29 cents or 0.2% to a 7-month high of US$123.37 a tonne yesterday:
https://twitter.com/CommSec/status/1620516543749849101
Blue finish today?
Iron ore price roaring away and this share marked down this morning? As usual not a lot of sense in the market
Good morning, iron ore futures rose US38 cents or 0.3% to 7-month highs of US$123.08 a tonne yesterday as Chinese stockpiles fell:
https://twitter.com/CommSec/status/1620153003419521024
Aangus1 the one I dealt with was used in density measurement in a quarry. The source in its holder was clamped to a steel pipeline with a detector on the opposite side. The higher the concentration of rock solids to water ratio reduced the gamma rays measured on the detector and via a a computer displayed an approximate measurement of the slurry density. This was useful for the operators running the plant to get the mix correct.
These things are fairly common in mining and quarrying operations for density and level gauges.
From this morning's RNS:
"part of a gauge used in the mining industry to measure the density of iron ore"
"The container it was in collapsed because of the vibrations of the road trip, he said. The capsule apparently fell through the hole left by a bolt that was also lost"...."the package was not opened until January 25 when the gauge was found ‘broken apart’ with the radioactive capsule missing."
For the most part it is used as a drilling fluid
Out of interest, what is it used for ?
I have some experience of these things. The source itself is tiny. The actual radioactive material (Cs137) is encapsulated in stainless steel and welded shut so it cannot escape unless physically cut open. The gamma ray radiation is able to penetrate the capsule but does not contaminate whatever it touches. The only danger is if somebody puts it their pocket unknowingly, I believe that to be highly unlikely as it would have been packaged for transport. This packaging would likely have been a substantial lead container clearly marker radioactive material. Certainly over here radiation levels have to be reduced significantly by lead shielding so the outside of the transport package is not hazardous unless you were to sit on it for a long time. the gamma rays cannot be stopped completely, only reduced in concentration by lead shielding.
Who cares?
It's the size of a fingernail & WA is a very sp****ly populated state.
Rio has dropped a radio active capsule in Western Australia (accident ofc) and has apologised. Share price is holding??Unbelievable !
Iron ore futures rose by US56 cents a tonne or 0.5% to US$122.49 a tonne:
https://twitter.com/CommSec/status/1618708946356965378
Iron ore futures rose by US3 cents a tonne to US$121.97 a tonne:
https://twitter.com/CommSec/status/1618000254980485120
Perhaps worth mentioing if there was a significant rise (or fall), but for 0.3%? - and over 4 different boards?
Iron ore futures rose by US37 cents a tonne or 0.3% to US$122.16 a tonne:
https://twitter.com/CommSec/status/1617242266237825024
Good morning, iron ore futures rose US60 cents a tonne or 0.5% to US$121.79 a tonne yesterday after BHP Group said it expected China's economic recovery to boost demand:
https://twitter.com/CommSec/status/1616179657694662656
didn't Rio Tinto sell off all their coal assets a while ago? Bet they are regretting that now.
ING:
"We have increased our price forecast for 2023 reflecting continued China reopening optimism and likely further stimulus measures"
https://twitter.com/ING_Economics/status/1615323222471237634
Huge beat.
China set a new record high in GDP during Zero-COVID lockdowns:
https://twitter.com/globaltimesnews/status/1615264605164670976
Positive RNS
The upward surge is continuing ( despite slight increase in production costs ) and also exciting times ahead with the Serbia project !
Roll on a juicy dividend!!
Upwards on the SP this week imo, metal prices rising as demand grows for Copper/Iron and Gold
GLA LTH A good year for Big Dividends once again
On Friday, iron ore futures lifted US$1.07 a tonne or 0.9% to US$122.33 a tonne. Over the week iron ore rose by US$5.76 a tonne or 4.9%:
https://twitter.com/CommSec/status/1614721932469088256