With Iron ore looking strong, Macarthur is totally ready for a re-rate. Their WA assets are exceptional. Around a billion tonnes of great Magnetite and 60m tonnes of direct ship Hematite sitting on top. When they sort their port access deal, and that shouldn't be long, MIO will be on a lot of people's radars. At todays iron ore price, I calculate that even done barely, they could truck a million tonnes a year of Hematite to Esperance or Geraldton ports and make $100m a year plus. And they are well funded. Interesting day today with the MIO price and volume today.
MIO Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
