the other concern is that the discount in Q2 was 18% for Onslow compared to 15% budgeted discount. FMG achieved a discount of 15% in Q2 exc iron bridge.
interest costs are way too high at present. And then the overall profit is still impacted by head office and other indirect costs.
IO prices would have to surge for the stock to be trading at a reasonable foreward looking p/e given their debt load
MIN Price at posting:
$33.56 Sentiment: None Disclosure: Not Held
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