Yes, that is true. MIN sold 60% of Wodgina for $1.3 billion USD...

Yes, that is true.

MIN sold 60% of Wodgina for $1.3 billion USD and retained 40%. The $1.3 billion was a capital gain.

Underlying EBITDA was $765m, up 77% previous corresponding period.

EPS is forecasted to be $3.14 this upcoming year which would give it a PE Ratio of roughly 11-12x which is significantly below the industry average. I should add that I believe the $3.14 is conservative given current the current ore price of $155 per tonne or around $200 AUD per tonne.

Add a plan to expand production to 90mtpa over the next 5 years (approvals needed), Kemarton construction ongoing and the fact that Wodgina could be brought online at any moment I would still say its undervalued. The amount of projects and innovations etc that MIN have in the works makes it hard to keep up with all of them.

Chris Ellison said he expects to double the workforce, production and earnings and profit within 2-3 years in the recent AGM which would suggest a share price of roughly $52 from memory.

Also keep in mind the dividends, not as high yield as FMG but solid dividends that have grown 19% pa since 2010.

Plus as noted above, MIN being a member of the ASX100 will mean some funds will need to hold a small percentage of MIN which is a positive.

All IMO and DYOR