More dollars for tonnes, cheapest iron ore producer in AUS.......

More dollars for tonnes, cheapest iron ore producer in AUS.... market cap should be b/n $200-$400mln vs current level of $67mln.
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MBIO Index 16/4/10 $173.64/tonne MBIO Index 15/4/10 $172.22/tonne % Change +0.8% $ Change +$1.42/tonne The MBIO Index today calculated to $173.64/tonne cfr Qingdao on a 62% Fe basis. This is an increase of $1.42/tonne cfr from yesterday?s figure, and marks yet another annual high in the Index. The market is now at 96% of its record high calculated on the same 62% fe basis, which was set in July 2008 just before the rapid decline in the second half of that year. The general consensus is that prices have further to rise in the short term, under a combination of strong demand and restricted supply. The closure of illegal mines in Orissa, India, has reduced supplies from this region, and the ban on iron ore with an iron content of less than 60% has further cut flows from the sub-continent. It is not clear at this stage the exact tonnages that have been affected, with conflicting views and statements of the impact, but it is clear that it is squeezing an already tight market.