Price of Iron Ore, page-5

When I bought FEX back in March, I was told they expected to gain a net operating profit of $100/t for $6 million per 60,000t load. It seems to me that at $85 AUD costs per ton, and an IO price of say average for our grades of $200USD we come in with $272 AUD for a net of $187. At the hedged price ($235 AUD) we get $150AUD net or 50% more than that expected not so long ago. The figures all look good to me. I'm not sure why anyone would be too worried. So though I don't hold many as I'm not a big investor, I did add to my holdings this week because I view the current price as too cheap.