I'm thinking aloud here that with MIns currently averaging 32 m tonnes per month at Onslow, and on the uptick, its generating about $100 m per month of free cash, so it begins now buying back the 2027 bonds on market at 95 rather than redeeming at par.
It takes care of the illusory debt problem that others have dreamt up pretty quickly; and an ok use of cash with 11% annaulised return whilst the discount lasts.
Same thing Fortescue did and added a lot of value.
I'm interested in what others think?
MINs starts buying bonds back on mkt, 32 m tonnes pa at onslow current
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Last
$38.86 |
Change
0.350(0.91%) |
Mkt cap ! $7.679B | |||
| Open | High | Low | Value | Volume |
| $38.36 | $39.20 | $37.15 | $150.2M | 4.173M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50 | $38.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.86 | 5031 | 2 |
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| Last trade - 16.12pm 19/09/2025 (20 minute delay) ? |
| MIN (ASX) Chart |