thanks kakoii, you gave me a good idea to search on mineweb to...

thanks kakoii,
you gave me a good idea to search on mineweb to find a fairer Earnings Value per tonne for magnetite ore in India

like i stated elsewhere:

AGO reckon they can make $30 tonne for their magnetite ore before recent price increases
http://www.mineweb.com/mineweb/view/mineweb/en/page674?oid=48025&sn=Detail

and it costs about $15 tonne to ship ore from australia to china

from russia to china is about $4 tonne

india - china should be comparable

also, processing and mining costs are reduced - say adding another $10 tonne of profitability

therefore an indian iron ore company would stand to make ~$50 tonne = 60% increase in profit margin

therfore EV = 1.3/0.6 = 2.2 (using above AXO comparison)

(see previous post for working)

Evaluation ($/Tonne of Fe) $0.35

@ Ev$/tonne $2.2/tonne = 2.2/.35 x 20c = $1.25 post consolidation and post MINIMUM price cap raising