Metal bulletin has spot 65% Fe pellets at $105.25 USD on 28/11/14 ..5 days ago .
what has changed ..in 5 days ..not the 65% Fe pellets price..its still looking good.
So we get $120au ..All in cost is less than $95au and falling .. p margin $25 ton
$25 x 2.8m t pa = $70m profit ,
mcap 121m at 10.5c earning 70m pa profit = p/e 2 ? and no debt? ..with 25y mine life ?
paying Dividends (10%)
GRR is not going anywhere but UP ..when IO stabilizes around $70....or AUD falls under 80c .
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