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
Add FEX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
35.0¢ |
Change
0.020(6.06%) |
Mkt cap ! $243.1M | |||
| Open | High | Low | Value | Volume |
| 33.0¢ | 35.0¢ | 33.0¢ | $728.2K | 2.138M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7568 | 34.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.0¢ | 341828 | 18 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
|
|||||
|
Last
34.5¢ |
Change
0.020 ( 4.42 %) |
||||
| Open | High | Low | Volume | ||
| 33.0¢ | 35.0¢ | 33.0¢ | 401184 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| FEX (ASX) Chart |