It is public knowledge the Board and Management inherited a pretty difficult situation and then they were hit by the financial crisis and iron ore prices halving not long after. As per his report at the EGM, what the new MD has achieved over the past six months in turning the operation around has been outstanding. Spot prices only increased very recently so full effect is perhaps not yet evident, but with a bit of luck these much improved prices will hold and coupled with the increased volumes and lower cost structure it will hopefully present a much happier forward financial year.
I think the company and shareholders deserve a bit of luck.
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