simple fact as I see it.
they can blame BHP RIo , chinese ore traders, governments, it doesn't matter.
Assets are fully secured by a 5BLn USD debt which is increasing as AUD falls, prices are falling compressing margin significantly, cashflow reducing, Debt to equity far too high, cashflow to service the loan in AUD is increasing. Revenue from future dividends has to stop .........
they should do it, raise capital,,,,,equities in these market circumstances, companies in this financial situation simply do not stay at 1.80 forever imo, 1.80 is no bargain imo
Iron Ore Price, page-1923
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