Simple as:
Share price $20.
Reducing the inherent cost complexities gives:
IO price US$135/ton = $2 div twice a year = 4/20*100 = 20% yield (standard scenario aug 2021)
IO price US$100/ton = $1 div twice a year = 2/20*100 = 10% yield (possible)
IO price US$60/ton = 50c div twice a year = 1/20*100 = 5% yield (worst case)
cf. Commonwealth Bank at 3.7% yield (standard scenario aug 2021) - no contest.
Iron ore price, page-36465
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