Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

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Tuesday, 15 October 2013

Rio Tinto flying high


53.3 million tonnes of iron ore production and on track for 265 million tonnes in 2013, sending RIO's share price back up to above $63. 

Let's hope that iron ore price holds up - it's doing a great job so far with the spot remaining above US$130/tonne but must remain susceptible to a seasonable dip, especially with huge supply hitting the market.

From SMH:

"Rio Tinto has released an upbeat set of September quarter results, with global iron ore production beating expectations and recovery of a crucial mine in the US progressing faster than first thought.

Rio produced 53.3 million tonnes of iron ore from its operations in Australia and Canada during the period, allowing it to cash in on the stronger than expected iron ore price, which refused to slip below $US130 per tonne for much of the period.

That result was slightly better than most analysts, including RBC who had predicted 53 million tonnes.

Iron ore brings in close to 80 per cent of Rio's revenue, and the miner confirmed it was still on track to hit its full year guidance target of 265 million tonnes for the 2013 calendar year.

Rio shares extended gains after the results were released and were up 2.5 per cent at $63.20 in afternoon trade."

Source: ASX