Unfortunately the purchase of WPGs iron ore assets at Hawks Nest and Peculiar Knob were badly timed as ARI bought these at not far off the peak iron ore price. ARI were first offered these assets by Aurion Energy AUY as long ago as 2002 but they were not interested. The figure AUY had in mind isn't known but may have been as low as $5m - ARI paid around $350m. [Yancoal Australia may still hold royalties on production held by 100% owned subsidiary Felix Resources Limited and two other parties]
ARI Price at posting:
71.5¢ Sentiment: None Disclosure: Held
