annual profit may exceed current market cap

iron ore now at US$120.48.

see http://www.bloomberg.com/quote/MBIO62DA:IND

So we're back to what was considered the 'floor' price.

and as always the real upside sweetener will be if the AUD heads back towards LT exchange rate of about 75c.

not to put too fine a point on it, however, annual profit from iron ore will exceed current market cap if iron ore remains at USD$120, 12Mtpa, exchange rate at 75c and cash cost is ~AUD$55 per tonne (figure taken form ARI's last prezzo)

Come on ARI - inform your shareholders and the market and issue an expansion project update and profit forecasts based on expanded capacity and stronger iron ore prices.

or do they wait until POSCO make their next offer and then pump out the profit forecast?

exciting times. glta