Iron Ore Price, page-18090

Hehe, whenever Baukaw say cracks starts to appears on DOW, DOW put on nearly 200 points.

Oh, Baukaw, you've done it again!

FMG found a floor at $6.40.

IO Future found a floor at 600 yuan.

Physical Market still trading at US$80+ (thin volume), volume will start to pick up next week and full steam ahead the week later.

FMG still making US$550M+ a month at current price.

Now Cash at bank: US$1750M, end of Feb: US$2300M estimated.

I say do a FAT dividend (A15c - US$350M), and a buy back (A$500M - US$380M), and more debt repayment (US$500M) - All Together.

I use to against a buy back because SP seem to follow closely it's true value, but it's been manipulated so badly during Christmas New Year and ever since, I say bring on the BUY-BACK.

Now back to my retirement, hehe.

DYOR.

Frank.