Great to see today’s volume. Macarthur is still far to cheap. The annual net revenues of Macarthur when they kick off iron ore production from their billion tonne iron ore project should be +$300m a year, when they get to full production. The Hematite cap rubbish ore should make them at least $100m a year. MIO still has a market cap below $100m. I think the re-rate is at the cusp of happening now. My target is $2 by mid-year and even then it’s still too cheap.
Great to see today’s volume. Macarthur is still far to cheap....
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