Haven't visited hc for awhile. Saw the comment Mac was on the board of IOH, we have probably had a round of golf together in Perth.
I/O would need to be loss making for a while for Min to go to C & M at iron valley, as this would put its cartage contractors permanently out of business. Not an easy decision. More likely to slow production and use annual leave until pricing recovered. Headline is, discount does not appear to have changed though. Implies low earnings for the next few quarters though.
Bci indicating for awhile now looking to buy something in gold or base metals. Must be getting close.
IO Fundamentals Strong, page-385
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