IO Pessimism is overdone. Upside only awaits..., page-12

well unless I'm missing something, if costs are less, then a lower io sale price is required to achieve the same net profit....no?

Say when fmg was $5 and IO was say $130 per tonne, their costs were much higher ( not sure how much exactly). So if IO is $30 less and so are costs then similar net profit result, and you would assume similar SP....assuming all other fundamentals equal...

my opinion IO doesn't need to go back to record highs to make the business an attractive proposition, just need to manage debt and see the bottom of the cycle out.