Worth some research here and in the following weeks and months with likely increases in iron ore prices, recently made significant operational improvements at savage river and also has a further magnetite development project in WA. Being a relatively high cost producer would expect to have high leverage to future increases in Fe prices and XAD moving forward, bounced well off 30-31c support recently is a good sign, would want to see break of 36-37c for continuation higher.
chart
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