ost is down, page-15

It sells 6 million tonnes of iron ore annually. Iron ore is currently selling at $186.00 a tonne for the 63% fe content. That equates to approx A$177.

We have 1338 million shares on issue. Revenue from iron ore sales is about $1,062 million. That equates to rev per share of 79 cents. Take out costs and you are looking at about 72 cents per share.

Rough figures as you have to account for S&A, interest and tax but you have to remember that OST iron ore is high quality.

So you think that the share price could go to 70 cents which represents a figure 2 cents below just their iron ore sales and does not include profit from US, NZ and potentially Australia plus the asset value of those businesses????????????????????????

Also, although iron ore will probably drop in price, if it does the Australian dollar will follow it. Thus, revenue from iron ore sales remains the same and the rest of the business improves.

The key is the the A$. If it drops back sharply you should see a shorters rally.