jorc out , page-33

so your saying that in effect, all iron ore companys get a price equivalent to the % of iron content in the ore OFF of the prevailing iron ore price???

Which iron ore price do u use though?

theres LUMP ORE prices and theres FINES and theres DMTU prices

So youre saying if iron ore price is 100USD which is 115AUD/tonne, YML will get 58% approx of that price coz they have 58% iron in the ore???

So what about magnetite deposits??? if their grade is 35-40% how can they be profitable if the IO price falls back to say 65 USD avg long term price?? Their costs would have to be minute??

I guess for magnetite deposits, they can produce ALOT of magnetite per annum and that would give economies of scale and lower costs by a lot

Still if IO price reverts back to 60-65USD long term , YML or FRS or even WPG should be fine if they produce a few mill tonnes per annum 3-5mill.