Looks like FEX just hedged more production @ A$170 a tonne. This was before the iron ore price jumped 8% overnight, now equivalent to around A$180 a tonne. Price momentum looks pretty positive, at least in the short term.
As I have previously stated it was only in Feb/Mar last year that we were told this project would be profitable or "attractive" at a price of just over A$150 a tonne (US$110 a tonne A$ exchange rate 0.725).
So I guess the only question is, with the price now nearly 20% above where we were told this project would be profitable (and possibly moving higher), will we see these guys finally get off their a***s and get this thing back into production, or are we going to miss yet another cycle??
Looks like FEX just hedged more production @ A$170 a tonne. This...
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