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clock Created with Sketch. 13/01/17
06:36
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Originally posted by samson
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Mole, your assumptions on total cash costs I believe are way overstretched. GBG would be long gone I suspect if break even was anywhere around the US$100 mark. The chinese financiers would never have agreed to the additional ongoing funding if that was the case. The place would've shut. The Chinese may be in desperate need of our Mag but they are not financial mugs. And that additional funding was provided at a time when IO was around $50. It is now around $80....and with a very favourable Aussie dollar cross rate.
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Yes I have always wondered about this so called $100 break even price , but more information by the company would be appreciated and I know how I repeat myself about the so called experts on Switzer now most of them are singing a new song and not so pessimistic about Iron Orr , I see were Atlas credit rating has been lifted up one grade which was not expected some months ago
