Yep.I particularly liked these 2 bits:- The review is in an...

Yep.
I particularly liked these 2 bits:

- The review is in an advanced stage and the Board expects to be able to articulate a Capital Allocation policy at or before the release of its FY2021 financial accounts.

- Price Protection PolicyFenix is considering a Price Protection / Hedging Policy. These considerations are also highly advanced, with the Company looking at methods to secure the future profitability of the Iron Ridge Project, whilst maintaining exposure to the iron ore market.


I wasn’t aware IO’s hedged. Glad they’re looking at it. Yes, it caps the upside, but who cares. To lock in a price above $200/t is prudent imho. Doesn’t have to be 100%, but I’d hedge most of it if they can get it above $200/t.

I also like the “... at or before...”, so we might see the div etc policy before the annual report.

clearly no decent projects at a reasonable price. That’s why capital management.

class management, continuing to impress.

cheers,
ned.