3mtpa at production cost of $70/tonne with a sale price of 130/tonne is $180million profit, tax and other costs could be 80 million and wed still have 100 million net profit. 500 million shares, 100 million profit = p/e of 10 at $2 a share. Hardly seems that far fetched to me, so long as the iron price stays high.
feeling the love, page-6
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