No nasty surprises but not positive surprise either - much of a muchness!
It's clear they need the West Pilbara Fines ASAP to boost margins as clearly the discount at the moment is hitting the bottom line.
However, fundamentally speaking they are sound currently and it looks priced correctly around these levels in my opinion.
The upside will be if have a major find somewhere and can diversify.....this will be looked upon very favourably I believe. They've spent hundreds of millions on exploration, surely something has got to give sooner or later?
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