$80 you say? Pffffffffffffftttttt. Piggy is that you?
The benchmark IO price trading on the seaborne market, where the majority of iron ore is traded is trading above $130usd CFR in China today. The DCE May futures contract is back trading above 730 yuan, and the SGX Feb contracts are trading about $130usd. All the while the cross rates between the AUD & USD see the USD below 72us cents per $1Aud.
MIN production costs for its IO interests are declining and will decline significantly once it completes its deal with RHI, ( a significant Low cost DSO IO operation ) amongst other ventures, add to this it’s new JV with Hancock / Reinhardt to share infrastructure including port and rail which will also a significantly lower it’s cost base further combined with Chris Ellison’s plan to expand his operations further and continually target cost and increased production -
This is only part of the story. There is a strong reason MIN share price had remained strong despite the recent dip in IO price. It has significant lithium interests as well.
Anyway, I made an assumption you knew what you were talking about. But it’s evident you probably don’t.
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