a billion tonnes of iron ore, page-39

Maz

It was a good buy at 20 cents if you knew the stock and read those 60% + DSO results.

But now, I think one needs to be educated in what's going on to buy the stock at current prices.

Using a 60% earnings ratio, at current iron ore prices, TRF can earn an equivalent to 23 cents EPS.

Increase the iron ore price by 25% and the EPS rises to 42 cents.

Increase the DSO mine life to 10 years and the DSO valuation moves to $4 a share.

Looks like a long term play with IFE able to receive cash flow of at least $60m per annum before tax at 25% increase in iron ore price.

$60m pa pays for plenty of CAPEX.

IFE, interesting company. Never heard of it before.