MIN chart, page-1830

Just a few macro sensitivities to be aware of for the daily trading:
1: BHP up strongly over night, closed 2% higher than Aus close;
2: FMG not as strong, FSUGY up about 1% on AUS FMG close.
3: Iron Ore up 0.5% to 94, from 93.5, more importantly the forward curve over the next two years increased by 0.8%.
If iron ore prices according to the forward curve, as MINs sustains 35 m t pa production for next two years, shorts gets absolutely smashed. MINs generates over 50% of its current equity value in the next two years, and could use that to halve its current debt levels.
Each $1 rise in the iron ore price adds about 80 c per tonne of EBITDA for MIns or $29 m pa for 35 m t pa.

Aus $ initially fell, to 63's, but has recovered to 64.7. Each 1 cent drop i the Aus $ against US adds $0.90 of EBITDA to Onslow or $31.5 m.

The two factors, iron ore price and Aus $ do tend to move in the same direction.

My trading model suggests MIns opens at about $21.16.

If MIns doesn't open higher i think i'll give the game away, may be become a driver for Transport for NSW on the new Sydney metro driverless trains or something, which may suit my 'useless' skill set to quote PP.

Jerry, a broken clock is correct twice per day. I hope you are looking forward to your short position getting smashed today. See you at $24 +.