This seems to be an interesting little miner with a good locking balance sheet. It's also great to see management hedging the sale price for iron ore at the current elevated price.
However, I was looking at the production costs of the big boys (RIO and BHP) and it seems they are sitting around $12 to $18 a tonne to dig this stuff up. We look painfully expensive still at $70 per tonne. Especially when the medium term treasury forcasr for IO prices sit around $80 per tonne for the budget estimates. Has anyone asked the board about what their estimates or goals are regarding getting the costs down to somewhere around sub $50?
Ann: Fenix acquires Mid-West haulage business, page-68
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