Frank I rang investor relations on this yesterday.
They lowered their target 75-85 From reading in between the lines the target is there for conservative sake but they hope to achieve at least 80. This will be upside surprise.
There is currently a lot of low grade Indian ore affecting pricing which re started when fe hit 85-90.
Worth calling them for the explanation.
Like I said before at some stage when the fe price stabilizes I hope that fmg attracts a reasonable multiple. 8-10 times.
Even at 60 fe price and 75 per cent (I don't think it will be that low in either case) you get eps of 80c and fcf of 1.20 a share.
Let me know if I missed soemthing?
Iron ore price, page-643
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