unclear. imho this is a growth opportunity with most of big end...

unclear. imho this is a growth opportunity with most of big end of town valuing this based on LT iron price of USD$90 - $100. for me the recent morningstar update is almost comical - limited mine life, high debt, LT iron ope price assumed to be USD$90 gives 60c fair value so sell....

my view is different. i think Iron Ore will stay above USD$100 (at the very least), i think forex implications of dropping AUD misunderstood (does no one do monetary economics anymore?)and i believe that current iron ore business will be sufficiently profitable to at least completely retire debt and maintain a smallish divie (6c pa or so) as well.

I further suspect that resource upgrades will occur. in the interim i think they should be sweating the assets as hard as possible.

glta