Must have read my mind, already prepared a more aggressive io price drop, and as you can guess, its even more undervalued than before. Partly due to a number of factors like the negative sentiment towards iron ore as the price has dropped from highs and the market has now probably shifted into other sectors (like lithium). At the moment, the EV is getting cheaper and cheaper as the price drops and more shipments are made.
Even if we don't get a dividend, EV remains strong.
Keep in mind a few things, we know FEX gets a slight premium to spot due to the higher grade - and all forecasts are purely fictional (there is no way I can know for sure how/where the IO price will sit, but it seems to have somewhat stablised). Also have to keep in mind we had high io prices for July and half of August.
Based on the current MC and "forecast", we'll hit more than 100% MC with cash profit in 12 months, notwithstanding current cash balance. Does make you wonder.
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