Yes. I am certainly not disagreeing with you on their current reported costs or the current spot price.
The great unknown though is what that margin looks like in 6 months/12 months time/2 years time etc
Mining stocks aren't valued at spot multiples. Prices mean revert, major replacement capex is needed and mine lives aren't infinite. This isn't a supermarket business. Analysts - despite some mud slinging in this thread with the benefit of history - know their stuff.
History and plentiful supply says there is a lot of potential downside on price (which even twiggy now talks to) and also there is a much smaller potential downside on cost (even if FMG costs aren't sustainable as some well informed people believe, a cost increase on the current reduced cost base won't have a great impact)
Time will tell either way
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$17.22 |
Change
-0.270(1.54%) |
Mkt cap ! $53.29B |
Open | High | Low | Value | Volume |
$17.56 | $17.84 | $17.21 | $100.9M | 5.749M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 6252 | $17.21 |
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Price($) | Vol. | No. |
---|---|---|
$17.22 | 159 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 23153 | 17.220 |
12 | 14042 | 17.210 |
27 | 16566 | 17.200 |
10 | 7914 | 17.190 |
12 | 14471 | 17.180 |
Price($) | Vol. | No. |
---|---|---|
17.230 | 8845 | 19 |
17.240 | 14803 | 24 |
17.250 | 6229 | 19 |
17.260 | 4542 | 17 |
17.270 | 3807 | 9 |
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