Tonogold Resources Inc (TNGL)

[ComstockRoyalty]

Bloomberg - Iron Ore Rout Ending - Vale Posts...

http://www.bloomberg.com/news/articles/2015-04-24/vale-poised-for-best-week-in-16-years-amid-iron-ore-bull-market


Vale SA, the world’s biggest iron-ore producer, posted its biggest weekly gain in 16 years after the steel-making ingredient entered a bull market.

The shares jumped 6.7 percent to 18.71 reais at the close of trading in Sao Paulo, pushing gains since April 17 to 25 percent, the biggest weekly advance since January 1999. Iron ore with 62 percent content at Qingdao, China, surged 5.5 percent to $57.81 per dry metric ton, according to Metal Bulletin Ltd. data, as concern eased that global output will outpace demand.

“Vale is reacting to the rebound in iron-ore prices,” Marco Aurelio Barbosa, an equity analyst at CM Capital Markets, said by phone from Sao Paulo. “Most of Vale’s costs are fixed, so whenever there’s an increase in prices, there’s a direct impact on earnings.”