Cliffs Resources sold a 400MT Fe resource to minnow Radar Iron (ASX:RAD) in April for total of $3.74m + $1 per mt royalty - looks ok on the face of it and will be developed slowly which also makes sense. It has good logistics although Kwinana isn't a very good port for bulk shipping in any decent volume (more cost with smaller vessels).
Quite a lot more distress however in the Fe mid/small tier especially those not well advanced and poor logistics - they are truly stranded for along time to come.
FAS Price at posting:
0.4¢ Sentiment: Sell Disclosure: Not Held
