Karasco58,
FMG had a larger cash pile at the end of FY15, therefore they were able to repay more debt last FY.
If you look at Net Debt, then it's better indication of Debt paid: FY15 Net debt: US$7.2B, FY16 Net Debt US$5.2B. Therefore US$2B in FY16.
If IO average is $55 this FY17. FMG is still US$4.50/T better than FY16. Around US700M more that can be put towards Debt Repayment.
DYOR.
Frank.
Repost - Query concerning FMG cost coverage and breakeven, page-18
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