Iron ore price, page-183

I think a small initial dividend would be needed to start to get them more on the map.

They held about $25m in cash at end of Dec Quarter and if they are earning $15m NPAT/qtr by June they will be sitting on $55m. An initial dividend of 0.5-1c would be about $10-20m and on todays price represent a yield of 12.5%-25%. Now that would peak investors interest and drive real SP growth.

I had hoped that Dec qtr had been a bit better and they would pay 0.5c dividend now, but whilst I still hold some hope of that, it may be a touch early. They are still a great buy with IOP for 62% fines touching the $150 mark. Will be very interested to see there half year results in a few weeks time! May be the push above 4c is based on growing expectations of good performance in Jan/Feb.