Tonogold Resources Inc (TNGL)

[joeblow110percent]

Iron ore price in free fall
http://www.mining.com/iron-ore-price-free-fall/?utm_source=digest-en-mining-170417&utm_medium=email&utm_campaign=digest

“The Northern China import price of 62% Fe content ore slumped again on Monday to trade down 3.7% at $64.60 per dry metric tonne according to data supplied by The Steel Index.”

“Iron ore price falls by 30% in one month.”

“According to Umetal's survey of the 42 largest ports in China, the total iron ore inventory now top 133 million tonnes, the highest ever. Elevated stocks have not dampened importer enthusiasm however with total imports for the first quarter climbing 12% to 271 million tonnes after the second highest cargo volumes recorded in March of 95.6m tonnes.”

“I don’t think anybody should be surprised to see the iron ore price come back to more sustainable levels,” Mr Power said.

“I think we will see the iron ore price to return to where you’d expect it to be based on the supply curve, which is around that $60 to $65 per tonne mark historically,” he said.

“Others are more pessimistic, FocusEconomics in its April survey of analysts and institutions shows a median forecast price of iron ore of $57 a tonne during the final quarter of this year. For Q4 2018, analysts expect prices to moderate further to average $54 over the three month period.”

“An April survey of analysts and institutions shows a median forecast price for iron ore of $57 a tonne during the final quarter of this year.”

“Dutch bank ABN Amro is the most optimistic calling for a $75 average towards the end of 2017 while London-based Investec sees an average of $71.50 over the course of this year. Year to date iron ore is averaging $83.60.”

Your Due Diligence starts here:

http://investorshub.advfn.com/Tonogold-Resources-Inc-TNGL-4288/

This is my humble opinion and speculation. This is not a recommendation to buy or sell. Please do your own Due Diligence.

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