AD,
I know you've got a job to do, talking down FMG, but for the record, breakeven at USD $39, INCLUDES the discounts/sustaining capital etc. that you are trying to deduct from the sell price. That is, at USD $48 they are still making USD $9 cash. On 165 mtpa, that's just under USD $1.5 Billion per annum.
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4 | 1164 | 21.170 |
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9 | 6219 | 21.140 |
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