Agree with Alias,
GWR costs were around $170/t with that reducing to around $120 aud/t. Granted with iron ore price still above $200 US/t there is significant profit to be made for FEL providing they achieve similar rates. For the first few months it will likely be at the higher end but your ore quality is probably going to get a premium on it.
Market will want to see sustained daily production and monthly shipments before a re-rate. GWR had a big share price dip after initial mining announcement because their ships and announcements weren't frequent enough.
If FEL can prove they can continuously produce ore at a reasonable cost and make monthly shipments then I think you will see decent SP growth.
Agree with Alias,GWR costs were around $170/t with that reducing...
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