It had to be said, I guess, from the SMH:
“None of us predicted it would be as bad as this,” Mrs Rinehart, chairman of Hancock Prospecting, said on Friday at a mining industry lunch in Sydney.
“Nobody was predicting – even the most conservative ones – the ore price crash.”
Of course it’s not even remotely true. And one needn’t even confine one’s gaze to MB. There were several sell-side investment banks that had dour iron ore forecasts falling below $80 even at the peak. An overshoot should always have been considered likely. Some research even warned Roy Hill directly.
It is also a fact that the MB outlook, which was the most bearish in the market, was communicated directly to some of Roy Hill financiers.
Gina and her banks dismissed the predictions.