Even at US$120 for Iron Ore, VMS is profitable so I’m not sure what you mean by we are near break-even.
AUD will drop due to iron ore price and shipping costs will drop due to demand as a result of iron ore price dropping.
This is a lowball calculation and I doubt AUD will be 71.5c (it will be lower) if Iron Ore is US$120. AUD will drop shortly due to Iron Ore price.
Even at US$120 for Iron Ore, VMS is profitable so I’m not sure...
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