I am not that worried about the iron ore price until October next year.
FEX free cashflow for Q1 this year will be in the range of $28 to $32M.
After the maiden dividend pay out. FEX will have between $53-$57M in cash.
That beautiful timed hedge, will deliver Free Cash Flow of an additional $87M out to October 2022.
Assume the balance of iron ore sales out to Oct 2022, sell at an average of $120 AUD per tonne. FCF is $30M.
IMO this stock is way oversold. DYOR as always
Price of Iron Ore, page-420
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Last
37.0¢ |
Change
0.010(2.78%) |
Mkt cap ! $257.0M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 37.8¢ | 36.0¢ | $952.0K | 2.582M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 74237 | 37.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.5¢ | 336700 | 3 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| FEX (ASX) Chart |