Buy on the rumor, sell on the fact. Never have better words been spoken.
The rumor for FMS is driven by Dr Kev, the fact is 476Mt of uneconomical ore.
[(55.4) / (100 – 5.7)] x 100 = 58.7% CaFe
Failing to achieve 60% Fe for calcined ore.is almost unheard of these days.
SiO2 + Al2O3 = 14.4% (should be <5%)
Have a look at the Alumina content margins for Twiggy's contract with the Chinese. Less than half the 4.6% reported by Dr Kev, yet the Chinese still weren't happy, so Twiggy was forced to construct a de-sanding plant.
It's going to take some hefty increases in the contract prices before that 476Mt becomes economical and from what I'm hearing, a 30% or even 40% reduction is on the cards for this year.
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