Price of Iron Ore, page-1551

Well the price of FE is starting to look very good. On Friday SGX futures closed around 122 to 123USD per tonne. Some more positivity that China will spend more to keep the economy chugging along. Some articles are starting predict 130 USD to 150 USD by early next year.

Of course I have no idea. Profit margins are definately getting better in the short term. We will be paying the hedge (which actually is a good thing).

300k to 350k tonnes per quarter out of iron ridge.

100k to 200k tonnes per quarter by the end of 2024 from the mid west deal. (considering they only have 10 years to mine the 10million tonnes).

I just hope if this range of prices 130-150USD per tonne in the medium term that FEX can raise the dividend back to 3 to 4 cents per share in 2024.
And save another 20 to 30 million AUD in the bank for any future aquisitions which is definetly needed to extend the resources portfolio.

Personally I do not want anymore large share issuances to directors and aquisition targets.

I think this is definitely doable with that price range.

With this all happening I cant see why not FEX getting up to the 40s and 50s eventually per share price.