Disappointing to see iron ore price tank so hard just as they got the operation going. Not something anyone could easily have predicted and a kick in the teeth for those that held on in spite of the doubt. To see the successful start of production albeit way later than planned only to have the IO price plunge so heavily is tough.
Hopefully IO finds some support and recovers later in the year but my guess is with the added screening costs, lower than expected ore quality and general inflation since initial costings that their production costs are much higher than the original pfs, so you'd need IO above $130 or more imo.
Disappointing to see iron ore price tank so hard just as they...
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