Very confident, very bullish comments from company during conference call
* record production achieved during shutdown quarter
* strong indigenous & community relations (especially, IMO, when compared with companies like Vale in Brazil and Rio Tinto)
* high grade iron ore price is expect to remain elevated going forward with no new high grade material coming on to market
* stable Fe recovery to continue
* strong cashflow supported inaugural dividend. Dividend strategy stressed tested under a number of scenarios. To be reviewed every 6 months but balanced towards growth
* CIA has a mix of backward pricing contracts (Japan) and forward pricing contracts which serves to smooths q-o-q realised price
* Phase 2 production to begin in April and ramp up over 6 months to full commercial production by calendar year end. Accounting will recognise each incremental ton produced from April onwards
* Port work ramp-up going well during challenging COVID times. No bottleneck foreseen for phase 2 production.
* Kami project feasibility study mid-2022 with commercial production targeted of 2025
* 69% Fe DRI pellet feed product is key focus to CIA growth strategy. Huge demand going forward for higher and higher grade enabling 'greener' steel making industry
* 69% DRI FS due mid 2022
Very confident, very bullish comments from company during...
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$6.06 |
Change
0.130(2.19%) |
Mkt cap ! $3.139B | |||
| Open | High | Low | Value | Volume |
| $6.10 | $6.20 | $6.06 | $9.778M | 1.603M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4485 | $6.05 |
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| Price($) | Vol. | No. |
|---|---|---|
| $6.07 | 16501 | 1 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| CIA (ASX) Chart |