Rather straight forward. Operating cash flow for Sep15 qtr approximately US$700 million. Deduct cap ex US$42 million and interest of approximately US$160 million for a free cash flow of approximately US$500 million. US$200 million added to cash on hand and the other US$300 million reduced debt through the buy back (but cancelled US$384 million of debt).
October was also a good month with an IO average of US$52.74 and still early days for November.
Management have stated US$1.5 billion cash available for debt reduction which I estimate would leave them with current cash of approximately US$1.2 billion.
Once debt is reduced I would like to see them buy back their own stock while trading at a discount to their NTA of approximately AUD$3.20
IMO DYOR
Iron Ore Price, page-2652
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Last
$19.47 |
Change
0.295(1.54%) |
Mkt cap ! $59.34B | |||
| Open | High | Low | Value | Volume |
| $19.06 | $19.51 | $18.92 | $88.74M | 4.579M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 733 | $19.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.47 | 1263 | 7 |
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| Last trade - 15.12pm 01/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |