RE:RE:Iron Oreninja123 wrote: and yet, this discussion re: iron ore is missing the forest for the trees. there is no way that we are down 14% on the back of iron ore miscommunication. perhaps being honest and open with investors is too hard for them and investors have lost faith .. but, why is the iron ore issue as a catalyst? it doesn't make sense that we lost $100mm of market cap on the back of the iron ore issue.
very notable that they actually took questions today...
The SP at any point reflects shareholders expectations forfuture earnings. I expected to see several millions in profit being reported in Q2 related to sales of iron ore. Also, expected to see many more millions as a result of additional sales in future quarters.
Instead what we find out is that we do not have iron ore that can be sold. Also, we find out that management failed to communicate this to shareholders (material information known to management since the first sale) and that the CFO continues to sell his shares. These are red flags...
Therefore, I do not think the market is missing the forest becauseof the trees. The market sees the trees that make up this forest and do not like what they see.