Iron ore price, page-195

Save your breath and put him on ignore, he's been bearish since $4s.

I would of change account by now if I have been wrong for so long, hehe.

Everyday goes by, FMG is racking in nearly US$20M Cash at US$85/dmt.

End of June 2015, Gloss Debt: US$9.6B
End of Dec 2015, Gloss Debt: US$7.4B
End of June 2016, Gloss Debt: US$6.8B
End of Dec 2016, Gloss Debt: US$5.2B

End of March, Cash is expected to be US$3B, Net Debt down to US$2.2B. (Provided that the realised discount is 12.5% this Q, more or less depends on this discount)

I say Net Debt to be ZERO by September Q this year and Gloss Debt to by ZERO by March Q next year, why so late you may ask, the reason is most likely we will get a big chuck of profits from now on.

DYOR.

Frank.