Iron Ore Price, page-17959

The beautiful thing about a sale price increase of your product is that the increase goes straight to your bottom line. So if you mine or buy a product for say $1 and normally sell it for $1.50 you make a good 50c on the deal. If suddenly the selling price doubles and you sell it for $3.00 without an increase in cost your gross profit goes from 50c to $2. That's a 400% increase in your gross profit which flows through in total to your net profit, well, not the percentage but the additional $1.50 does. That's pretty well the situation we have at FMG right now commencing last month. The price may not be quite double but as the C1 costs have diminished as well, it won't be far off.

Of course the price can and will go down as well as up, but FMG will make hay while the sun shines, as they say. Remember, they were still profitable at $45 dmt.

It's just an extraordinary company with great management, what more could you ask for?