Macquarie did the math when they were doing only 15.6mtpa now they are doing 37mtpa some 240% higher than April and you are negative ?!
IOP of 70.00 is pure fantasy !
its now around 93 right?
I expect costs to drop & margins to BOOM imho
the more they truck and ship the lower the costs per IO Tonne as its the same driver same fuel same ship just way more on board thereby way more revenue while costs are marginally higher
you dont seem to understand the "economies of scale" factor
240% more revenue in June than April
60% more costs for more loads
how do you think the overall AISC costs will go this Q4?
I remember when MIN bid for AGO and the bears all called AGO a bankrupt high cost trucking model in Pilbara, went from 210c to 400c back to 1c ps then GINA bid for it at 4.5c ps
MIN has a way closer easier trucking model with larger better cheaper jumbos with unlimited port access unlike AGO, AGO did not have a haul road built, they trucked 4 times longer distances at way higher costs than MIN
AGO is now worth 220c ps to her & made her Ozs richest person.
AGO is now worth $22B to GINA from $0.45B
MIN MC was $16B last year
its now $4.4B
the market has already heavily discounted everything you have said PP plus more and more.
Eventually MIN will build a rail line next to the haul road like GINA FMG RIO all did
Macquarie TP is 35.00 ps here.
They did the math and they are BULLISH. Explain that?
MIN Price at posting:
$22.57 Sentiment: None Disclosure: Not Held
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