Vale baled out of Simandou, page-8

donedeal

It's even more amazing how you confuse the funding and the relevance of io price. At the time when SDL repays its loan, if the io price is high, it can pay back the loan sooner, however, if the io price is as low as now, SDL still has profit to service its loan.

As to the current io price, no need for me to explain that it does not mean it will be the same 3-4 years later. Why is it so relevant? Roy Hill can be your good study case.

Cheers.

Pikapika