Iron ore price, page-606

bp
have to take issue with you here. Dividends and result was based on an average realised price of $56 per ton (source FMG half year report), in the December quarter because prices didn't hit high numbers to at least half way through the quarter so and even given FMG's comment this morning spreads will narrow and 15% discount will probably be the price for the quarter so thats 58 per ton at current prices around about where the stellar result was. 58 -31 all on cost (a dollar less than it was due to debt repayments) 27*170 =4.590 billion free cash flow before tax. Earnings per share even at these prices are at least $1 US or 1.30 AUD so you can't see any share price growth - bollocks - fmg is being valued purely on sentiment and when the market realises that prices will stay above 60 for the foreseeable future instead of the bs 50 which the short houses have propergated- then there will be a massive rerating- the rest is noise its a valuation based on conjecture right now - BP I was right about demand and supply for the last two years - this is temporary and policy driven by the Chinese rulers- My analysis says shortfalls in the second half and I'm certain about it>