Even with the massive sell down of Iron Ore, it was still US$130 way above VMS DFS US$90 and still very profitable.
With COVID-19 now better in China, the Chinese needs to kick-start its economy via construction and see article above China is concerned about the demand for Credit due to strict conditions during the pandemic and now appears could be relaxing the credit criteria which only increases the chances of Iron Ore price increasing.
People want to sell, it’s their prerogative but all I care about right now is how fast VMS is producing Iron Ore and based on our Burnie friend @railgun 100,000t and that Iron Ore stays above US$120 but looks like that very very lowballing from me.
VMS share price will fixed itself when we get a few shipments under our belt and cash banked.
PS: not interested in any politics discussion
VMS: Riley Iron Ore Mine - Profitable or Not?, page-178
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