FOR much of 2007, iron was the mineral of choice for speculators. Companies like Midwest, Atlas, and Sundance Resources all rose like phoenixes out of the ashes, with paper fortunes made and more recently lost, as share prices tumbled. During this time, market leader Fortescue Metals rose from an effective $1 per share in late 2006 to trade at more than $12 per share, prior to its recent retreat to around $6.40 per share.
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