CIA fell -4% on Thursday in line with falls by the better-known iron names i.e. FMG-3.4%, RIO -2.5% and BHP -1.5%. This NSW-based exploration company traded ex-div 10c last month but its share price has primarily tracked the iron price over the last few years, until further notice it’s probably our 4th or 5th pick for exposure to the bulk commodity.
- CIA has been range trading between $4 and $8 for the last 2-years and today we’re right in the middle making it an easy leave alone for us.
MM is neutral toward CIA ~$6
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