Now the company has used a sales price of only $73 in their assumptions (mine gate sale):
Mineração e Metálicos (MMX) achieved domestic sale price <$50/t (Financials available at web site. A little reverse engineering is required but not too hard)
“Iron ore spot prices hit record highs during the first months of this year and MMX is hoping that prices in Brazil will follow the trend, the executive said. So far, however, local demand has not picked up like exports." (Press Release)
Domestic Brazilian market is over-supplied and domestic buyers are trying to compete with cheap Chinese steel imports.
If you run the numbers at $50/t the project has a modest IRR of 27%.
Now the company has used a sales price of only $73 in their...
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