Michael SprungConsolidated Thompson Iron Mines Ltd.CLM.TODON'T BUYOct 20, 2010
Iron has had a good run recently. Here you are really dealing with eh vagaries of the commodity market. There is a theory of demand from China for steel. He thinks it is ahead of itself and would not buy at these levels. But is a good company for the long term.
Fantastic play on iron ore. Just wanted to production in the 3rd quarter. Projecting about 8 million tons. Looks undervalued by about 40%. Looking to expand to 16 million tons.
(A Top Pick July 20/09. Up 110.3%.) Trimmed a little when it was higher. Still likes. First boatload of iron ore is en route to China or is there. Has real legs for the long haul.
Iron ore developer. You won't see full production for the next 6-9 months. Iron ore has been very hot and feels demand from China will continue to drive iron ore. Will have a bit of a dip and then come back and this will be one of the major players.
Have a new iron ore mine coming into Quebec. This one makes sense even with iron ore at $80 a ton. China is coming back in and the global economy is growing. Lots of cash.
Pure iron ore play in Canada. Just starting shipments out of their mines and will be about 8 million tons this year, expanding in phase 2 to 16 million 2-3 years down the road. Eventually has a earning powers of $1.50-$2 a share. Likes the future demand for iron ore, particularly from China.