With 62% Iron ore Price at USD 98.50, AGO are receiving USD $85/MT.
AGO C3 or all in costs are $90 USD, not $75 when you factor in D & A, Repayment of Debt and new projects.
Should we see a sharp recovery in IO price, shorters will be covering ASAP>
I think majority of downside has been factored in.
Look to buy on any further weakness.
io price, page-102
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