t/o, page-25

at 150mill it would be less than costs,minimum multiple at these prices is 12, doubling or tripling your money over 3 years is pretty poor, am in this for the long haul the directors always stressed they were looking for the right deal to take them forward .
there are some issues with i/o the fact the majors are working the low cost old sites that are a considerable distance from port is as much a strategy to maximise profit while ramping up production on sites that in just a few years might well be uneconomic due to energy costs and distance ,it also serves to keep startups away and i would think contributes as much to spot price decline which serves them well allowing them more market share and causing mine shoutdowns for poor margin operators.

price is not always the dictate of the buyer , markets are like diamonds multi faced

RIO and BHP profit is up