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
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