Iron ore price, page-677

Hi Guys,
While I agree not to be too optimistic with expectations I have tried to be pretty conservative using A$52/t as full cash costs as they were estimated at $48 - 52 for 2017. Also full cash costs do take contractor share into consideration :
Full cash costs includes C1 Cash Costs, royalties, freight, corporate and administration, exploration and evaluation, interest expense, contractor profit share and sustaining capital expenditure,
but excludes depreciation and amortisation, one-off restructuring costs, suspension and ramp up costs of operating mine sites, and other non-cash expenses. C1 Cash Costs are inclusive of
contractors and Atlas’ costs including Contractor Rate Uplift. Full cash costs are derived from unaudited management accounts.
So really there is only hedging and D&A to consider. Not sure how much hedging they have at this stage.
Would be nice for AGO to over deliver instead of under delivering.