Iron Ore Price, page-814

A few posters are posting as if FMG is down to the petty cash box with no funds to even provide scotch finger biscuits

With costs reducing and cash reserves, they can fund the biscuits for a long time to come

Potential prepayments which are a great way of raising funds are ongoing and will provide additional headroom should a major announcement not be forthcoming

Panic buttons not being pressed yet by FMG

If someone posts that prepayments are a bad thing, study the balance sheet 31 Dec 2014 and note the amortisation schedule and work the io tonnage comitted to for future delivery, funding using ore reserves as security and discount applied being akin to interest

If funds used to repay bond holders & note holders FMG becomes a more viable refinancing proposition as I doubt the customers that prepay have been granted any secured rights over FMG assets other than obligation to supply at a future date based on market rate less prepayment discount