A beautiful message for the cabal of shorts, cover today at $22, or next week at $24

I have a beautiful message for the cabal of clowns that are shorting in Min Res, Kerry, Stelletheone, Ryster, and anyone else who's listening:


That is the production at Onslow you are shorting into.

Yesterday they did 43 m t pa.

The current production is 36 m t average over the last 14 days, and 33.7 over all of June.

Each day MINs does this, it is producing + $ 3 m of cash to de gear the business.

The business trades on price to Free Cash Flow multiple of 3.6 x on FY 26, and 3 X Fy 27.

Senior Mins staff at Onslow yesterday has confirmed to a pack of media:
- there are no issues now with producing at 35 m tonnes per annum
- the mine producing +$700 m of ebitda at + 90 US per tonne
- production is just ramping up, but when the haul rd repair is complete the production at Onslow will "florish"
- the Onslow business is still very profitable at $US 80 per tonne
- the mine is breakeven at $57, but the overall Onslow business is breakeven significantly lower (I calculate at $40);
- iron ore was up overnight 0.8% to 93.55
- BHP, RIO, FMG all up strongly in overnight markets, BHP closed 2% above Aus close
- The MIns 2027 Bonds traded significantly up to 101 yesterday, leaving a residual yield of just 7.7%, fairly close to the risk free rate.
- There is no capital raising.
- MIns is not selling any part of the mining services business at "any price" because it is the jewel in the crown.
- staff at the MIn Res "resort" Mining sites love the cklub med atmosphere, and are very fond of Chris Ellision, who focuses on staff safety and happiness.

You lost 2% yesterday, today you'll lose another 4% if lucky.

My advice is you have two choices: you may be able to cover your short position at below $22 today.

Or alternatively you can wait and cover at + $24 next week.

And or you can wait for the letter on your desk that will appear one morning terminating your employment and spelling out your minimum employment entitlements, because make no mistake, that letter is coming.

The letter may not arrive today, may be not next week, but it will arrive very very soon as the MIns share price continues to rise to over $50 over the next two years and your position continues to blow up your fund.