I totally agree Albert E. We are very cheap even in the current...

I totally agree Albert E. We are very cheap even in the current iron ore malaise. Correct me if im wrong but our costs are approx $88 per tonne AUD and we are receiving $230 per tonne AUD for the hedged portion and approx $150 AUD ($108 USD) for the unhedged portion. Either way we are creaming it for a company with heaps of cash and a market cap of $100 million. Admittedly with the AUD falling and diesel rising recently our costs may have increased however the AUD/USD achieved iron ore price should offset this. This is the perfect sleeper in a too negative iron ore market at the moment. BHP, RIO and FMG have all turned with large instos predicting a solid bounce after the Feb games in China. If you believe this then the time to get set is now. If iron ore ends up stabilising around $130 usd I believe FEX should easily be in the early 30's and paying another excellent dividend. The time to buy is when the herd is negative. Once theyre positive the opportunity is lost.