Ann: Mines and Money Conference Presentation, page-14

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Hi Baz.

All metrics are at 62% reference price, with ~25% contingency and a very conservative premium of $25 applied to "fill the gap" of the remaining 6% in grade.

Here's the proof re 'conservative'.


~ $25 accounted for between 62 and 65 fines. We have a remaining 3% on top of that.
And then, well.. add another 50 bucks if we get to pellets.

You might make the argument "but this is at around $150 though - what about when it hits $110??"

So, we're finding more and more that as lower iron ore % products go down in price, the higher quality iron ore (us), are staying at marginally higher prices.
Note below (also note this is old data, from year prior - i think the latest data shows a larger spread. If anyone has any recent data would love to see it).

Hi frog are you converting USD to AU cus they interchange at times.
I'll have another look over weekend