Its all fine with Iron ore at $80, remember mining services off Onslow is invariant to the Iron Ore price. The deal with Baosteel gives away some of the upside with higher iron ore, with lower downside. The breakeven for the total onslow business for MinRes is US $35-$40. So at $80 they are printing a lot of cash.
MIN Price at posting:
$36.25 Sentiment: Buy Disclosure: Held
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