if it’s so bad why are the bonds trading at par? Onslo will be transformational bring iron down to $70 AUD delivered. Current price is $98 USD with plenty of high cost producers who will be squeezed out on any price falls.
That’s not to say the current debt doesn’t add risk. Any failure to execute plans would be potentially disastrous. But the issue is whether that risk is priced in. Talking about current PE or posting charts of the current iron ore cost of MIN are simply not relevant.
I rate this a buy though with the “beware of catching a falling knife” proviso.
True value around $15-$18, page-20
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Last
$35.31 |
Change
0.360(1.03%) |
Mkt cap ! $6.939B | |||
| Open | High | Low | Value | Volume |
| $34.65 | $35.39 | $34.62 | $86.23M | 2.439M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 600 | $35.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $35.35 | 300 | 1 |
View Market Depth
| Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
| MIN (ASX) Chart |