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Updated view on Iron Ore, again!

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Updated view on Iron Ore, again!

Hi James and Team "here we go again" - What's your latest view on Iron Ore and the likes of RIO, BHP and FMG. The China stimulus story has come up again! Do you feel it will be short lived? For the optimist who keeps holding - what's you view short and medium term at current prices for these stocks? regards Debbie


Hi Debbie,

We like resources in general but more 50/50 of Iron Ore specifically around $US109/Mt. As they correct on increasing recession fears we would be accumulating into weaknesses in similar fashion to our recent purchase of Sandfire Resources (SFR).

We prefer Fortescue Metals (FMG) over Rio Tinto (RIO), it looks positioned to have the most upside but obviously this is very dependant on demand/economic strength out of China. BHP is a more diversfied play which we are more inclined to buy than sell at current levels.

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Fortescue Metals Group (FMG)
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