Hi rcman
c1 about the same as BHP and reduced the discount on grade so right on their heels. Reduced debt and interest cost is also closing the gap. The debt reduction in the Sep qtr and interest cost saving was 20c per ton so it all adds up. That is why BHP should take them out or in the next few years FMG might be bidding for WAIO. lol. Already producing two thirds as much IO as BHP. If IO price had not weakened in the last seven days the price may have pushed to $2.90 as part of the re-rating.
Iron Ore Price, page-2488
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