Watcher closely, page-142

g’day Troisi.
agree no big deal. We were pretty happy when IO was $150-170; even happier as it kept going. Went up a bit fast, so pullback not surprising. China is still growing annually >5%, so that means they will consume at least that much more this year than last, and next year, etc. we know the rest of the world is either into their Covid infrastructure programs or planning them. Big infrastructure projects take time. Demand is actually a stronger driver long term term supply. The Vale issues just added a bit more.
All the junior IO’s are making more money than they dreamed of during this high IO price time and will continue to do so if it stays above $130. Their feasibility’s were done at lower prices. So all good.
I’m happy with IO being so high, means our divs will be even higher, when they start. Although that won’t be for a while, so I’d still figure on $130/150 for that. Can’t remember what price Pihrana used, but it was conservative, which is good.
cheers,
ned, looking forward to start production soon.