Spot iron ore for import to China yesterday gained 40 cents at...

Spot iron ore for import to China yesterday gained 40 cents at US$112.30 a dry tonne.

3 Months forwards above $110 for the third day in a row as well.

Hoppo - "difficult to keep head above water in the near term.."

WDR have hedged the price of their ore in the near term and have offtake agreements in place.

If the price does fall to an average of $103 in 2015, hedging aside, that is still well aboev WDR's cash cost per tonne.

Doesn't appear to have been raining much lately.
http://www.bom.gov.au/climate/dwo/IDCJDW8036.latest.shtml

How's it going up there Garyboat?