bull market in iron ore and we’re perfectly positioned with a near term production, high grade iron ore asset!
62% FE has now hit US$103, 65% FE hits US$119.
every US$ that the price moves north is an extra A$1.3m+ profit at 1mt production per annum.
we have seen over the last few months the price increase by over US$20 per tonne. That is an increase in over $A26m per year profit per annum at 1Mt output, or $A52m at 2Mt output per year. This is more then our market cap and we could effectively be in production next year and making well over $A50mt profit per year on 1Mt at the current margins/price. Double that if they could produce 2Mt per annum.
in 2011 62% FE hit US$190 so there is still a huge amount for this to run.
https://www.*.com.au/iron-ore-price-china-inventories-2019-5
Surging iron ore price
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