yes i commented on the quantity as people here bang on about 1Bn...

yes i commented on the quantity as people here bang on about 1Bn tonnes of high grade ore! the 'competent person' reported on the recoverable ore of around 250-280Mt, whats your point?

FMS reports have stated many times you have a reserve of around 250-280Mt of 56-58% IO which fetches a 21% discount to the spot price according to FMS mgmt's latest presentation.. that is fact, but i understand that many here don't want to hear these things..

as for FMG they are barely making money and they are cutting out every last bit of waste they can find but they are also chewing through their lower strip ratio ore to make their costs look better.. they are a volume play. BCI are around break-even..

The world bank article was merely highlighting the downward pressures on IO prices that all miners face in this race to the bottom scenario the industry is apparently in

I'll post on whatever forum i like, you can ignore me and get Rosie's detailed assumptions/costings.. i understand you prefer those numbers..