Definitely a nice run up on ore prices. Q1 2013 futures hit in the 130 range which bodes well for cliff's guidance next year. (Won't help for Q4) They said on the Q3 call that guidance was based on 128 per tonne. We never hit it this quarter.
GS is in business to make money. Do you really think they care to warn the market a price is going to drop over 6 months? If you wanted to buy a stock and you had the ability to crash the price 20% before making the purchase... Wouldn't you do it? I'm sure the GS hedge funds enjoyed picking up shares under $30. It's not about being right or wrong... it's about making money.