With further rise last night on DCE (Dalian Commodity Exchange), looks like we will see iron price above USD $100/ton on Monday on Singapore iron future.When China is out of this current Covid wave, $120/t in March 2023 is quite achievable I think.
Equivalent Fe70% would be around USD $145-$150/ton. That is massive profit margin for high grade magnetite concentrate like Hawsons's product.
I think sellers of the last few weeks are starting getting nervous as sp starts moving up. It is ridiculous to value a project like Hawsons project which the NSW government is proud to show off to international investors right now, starting with the Korean Business Council delegation, including CEO of POSCO, meeting with NSW premier Dominic Perrotte on 29th-30th Nov (next week) at under $300mil MC. My maths tells me it is still ridiculous dirt cheap even at $1bil MC.
Not financial advice.
HIO Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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