30% of the current anticipated iron ore sales are hedged up around $118 a tonne and some a bit higher. They can slow down and ramp up as needed.
The hedge will provide protection until the end of the year and they won't lose any money from operations so not sure why people will be panicking over that to these levels.
Dalina iron ore price was up over 5% last night. It seems it may have bottomed for now.
The iron ore resource itself is worth millions of dollars. We sit at a $3m EV. Lol
Ann: Quarterly Activities and Cashflow Report, page-124
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