Iron ore at $112 as the good Samaritans pointed out today - That's a whopping $17 above the $95 I have my base case built around. ($75 after discount for impurities/moisture etc)
Very rough rule of my old thumb - Every additional dollar in iron ore adds US$20 million (give or take) to Min Res's Earnings. $17 = US$340m or almost half a billion AUD per annum. Not too shabby eh!
Beware of the value of your shares and dont given them to shorter cheaply! I will allow for a few months for Chris's team to focus on ramp up. If they can achieve 18mtpa run rate by Dec24 - that will send a very strong message to market. And if at that stage iron ore is still around 110 - There will be no one with balls big enough to be short Chris Ellison's Minres. This is a bloke I would never want to be on the bad side of. Even miss piggy (Gina) doesnt.
Iron ore at $112 as the good Samaritans pointed out today -...
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Last
$52.54 |
Change
0.930(1.80%) |
Mkt cap ! $10.32B | |||
| Open | High | Low | Value | Volume |
| $50.66 | $53.58 | $50.56 | $106.4M | 2.029M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 400 | $52.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $52.59 | 9630 | 1 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| MIN (ASX) Chart |