OzBlue Great Post. AGO reported cash costs of AUD $58/MT With...

OzBlue Great Post.

AGO reported cash costs of AUD $58/MT
With there product of 56% Fe after discount and penalty would be lucky to receive $34 USD or AUD 46.50/MT.

They are producing around 1M MT per month.

Therefore before any debt gets paid back, any head office costs, they are losing $12M per month.

At Sept. 30 they had 107M in bank, there must be less than 75M AUD in the bank now.

One would think that iron ore is not going back up to $60 USD anytime soon, let alone $80 USD/MT.

Is it not better to close now as opposed to being wound up in 3 - 6 months.

David Flanagan still takes home his 650K per year. Maybe this is a legacy issue.

At the end of the Day, only BHP, RIO, FMG and Roy Hill will survive.

One would think Roy Hill and FMG are marginal anyway.