+ $4 on the cards, page-7

Hi Jessel

fmg receive about 80% of the fe price as they have a lower quality ore (58%) that they ship and it is wet and needs to be dried..on top of that they have 6% state royalties too

so i reckon they are making around $26-30 a tonne at the moment still big money and that is on 100mt annualised and looking forward it will be 155mt

obviously with rail sale or lump payment of debt they will significantly reduce ongoing int repayments and i dare say get a further discount on remaining debt which should neutralize the slight increase in operating costs..

i wonder why they dont sell the whole rail with a 99 yr lease guarantee pay all their debt off then laugh all the way to the bank??

they are an fe company after all not an infrastructure company