Thanks Drucken; Good work. I've done a similar analysis.
Just adding to your work, you have non onslow mining services saying running at $500 m ebitda pa, on 10 X = $5 bn of value.
FMG's iron ore costs are considerably lower, justifying that part trading at a premium to MIN, but MIn also has a fairly simple expansion option to 50 m tonnes, which would make it a quarter the size of FMG.
Once you add the mining services part for Onslow, the brekeven for Min is about $35 to $40 US per tonne, which is probably similar but a bit above FMG.
It looks quite cheap relative to FMG to me, putting all this together.
Thanks Drucken; Good work. I've done a similar analysis. Just...
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Last
$32.32 |
Change
0.220(0.69%) |
Mkt cap ! $6.351B | |||
| Open | High | Low | Value | Volume |
| $31.41 | $32.98 | $31.28 | $105.8M | 3.266M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $32.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $32.32 | 41 | 1 |
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| Last trade - 16.16pm 25/07/2025 (20 minute delay) ? |
| MIN (ASX) Chart |