Hi Sarg, I think that 40c + 40c may be a bit generous. In the...

Hi Sarg,
I think that 40c + 40c may be a bit generous. In the current environment the directors may be a little more cautious than that, however, even at 30c + 30c. the yield is still an attractive 6.8%. The issue for me is that the last market update suggested a revenue pullback of around 20% but didn't mention a suggested/projected NP. The NP could very easily be a pullback of noticeably greater than 20% - especially with the miners looking at their costs at every opportunity. The team at MND have a very good track record, however, it is hard for any company to avoid getting caught up to some degree, in the iron ore flow-on effect.