MIN chart, page-1790

Rusty;
I'll give you sensitivity, and you decide whether to buy.
At start of the day, assume spot iron ore price hold, MIns was going to generate 80% of its equity value in free cash flow over 3 years.
With MIns price fall, and iron ore rallying 0.9% to 93.6, FCF goes up about $50 m over the period, assuming current price holds, the current ratio is 86%.
So its a better buy now, than early today.

You decide where the share price is going.

	MinRes Onslow estimated EBITDA per tonne Aus $ (mining + mining services)						31.4
	Date since	Total days	Rate shipped per day tonnes	Total transhipper unloads	Total shipped (tonnes million)	Rate per year(million tonnes)	Free cash flowFY 26 Onslow(FOB AUD 58), $ m
	05-May-25	46.5	76129	177	3.54	27.8	$872
	11-May-25	40.5	79012	160	3.2	28.9	$905
	20-May-25	31.5	80635	127	2.54	29.5	$924
	01-Jun-25	19.5	92308	90	1.8	33.7	$1,058
	Current	8	102500	41	0.82	37.4	$1,174
	Free cash flow (FCF) estimates (entire business)
		Fy 26	Fy 27	Fy 28	Mkt cap $ m
	FCF $ m	1155	1417	888	4032
	Price/FCF	3.5	2.8	4.5	FCF % of mkt cap (Fy 26 to 28)
					86%
	Unloads by Transhipper since 5 May 2025						Iron Ore price US$
	Airlie	Coolibah	Montebello	Rosily	Peak		$93.60
	42	42	42	44	6.5