It was 27% last quarter and is rapidly increasing. As demand reduces the lower grades become practically worthless.
The modern era of iron ore with the Pilbara as the main producer and China the main customer is best characterised by the last decade or so.
Ancient history.
During this period IO prices have averaged USD110 factoring in inflation. The FMG grade discount has been circa 15% on average.
if you ignore the pre-2014 boom it is only $80. The grade discount is now 27% and rising.
Pigs might Fly also does not tell you FMG is net cash ( ie it's cash in the bank is higher than its debt) and has a track record of being generous with dividends but also reinvesting profits widely.
All miners have to reinvest. Otherwise they run out of ore. Pigs might Fly also does not tell you about the dividend. At current prices expect roughly $3.50 per annum franked. FMG is paying my kids private school fees with its dividends. Pigs might Fly definitely doesn't like talking about the dividend but I do because it is huge.
You live in a fantasy world. When IO prices were previously at current levels the total dividend was only $1-1,50,
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