It should be greater than US$200 million. I am just being cautious.
Even if they breakeven on IO at a P&L level, they can boost profits by directing all free cash flow into debt buybacks. But they should do this quickly because as their net debt falls and IF the market is more stable then the discount will close. I wonder if they will launch another buyback tender at the half year result or soon after? Maybe another US$750 million buyback tender?
Iron Ore Price, page-4553
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Last
$19.54 |
Change
-0.370(1.86%) |
Mkt cap ! $60.16B | |||
| Open | High | Low | Value | Volume |
| $19.52 | $19.75 | $19.29 | $225.1M | 11.80M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $19.52 |
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| Price($) | Vol. | No. |
|---|---|---|
| $19.54 | 6420 | 1 |
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