Price of Iron Ore, page-1438

Some are happy that operations haven't ceased when prices were low. Good to see IOP recovery to around $US110ish. Surely some news on resource will be coming though doubtful it will be prior to year end. As long as operations continue and hopefully profitably in the interim.

From the full year results C1 FOB cash costs were around $US62 and expected to drop a few more dollars. Hedging for a further 6 months for 35000 dmt tons per month at around $A180/dmt. Should still be making some profit but if there is no interim divvie like last year then perhaps another sizeable one for later - as was late this year. A final year divvie of 3c or more late next year would still be very nice given current sp. They have a sizeable cash buffer and at current IOP the buffer should be increasing or at least be stable.

Exchange rates have also been more favourable in the past 6months than the first six months of this current year and shipping costs may have eased - both should assist further. As to how much exact profit/loss - lets wait for the quarterly - not long to go.