1) 58% fe ended the week lower at $AUD 56 per tonne, so we are...

1) 58% fe ended the week lower at $AUD 56 per tonne, so we are back to break even.
2) Looking at Q1 2018 to date we have spent most of it trading at or above breakeven, so my guess is a modest profit of $10-$15m from iron ore during the quarter.
3) The spread to 62 fe has improved from $AUD 36 to AUD $30 this week, best spread since Nov 17, so that is something to hang our hats
4) seems our transport corridor is worth a lot more money than people are giving us credit for. If Cliff can show the earnings will be recurring from third parties users then we have the whole current mkt cap of AGO right there.
5) Bell Potter guy bought $3.5 million AGO last week (I see GS & UBS in the mix, but not as large) , assume not insto otherwise they would have approached Macquarie who has been doing the selling for Legg Mason.
It would only take $20m to walk debt holders out of the last of their stock, I remain on alert for a large insto crossing to clear them out.