in Sep Quarter, BCI stated:
Average realised CFR price of US$72/dmt, from average CFR 62% Fe price of US$90/dmt
so that's 20% discount from 62% spot, so at US$70, the sale price should be somewhere around US$56, at 81c exchange, equal to AU$69.
on the cost side, BCI stated;
Cost guidance for the remainder of FY15 revised to A$47-51 per wmt (FOB) for NJV C1 cash costs and A$54-61 per wmt (FOB) for BC Iron all-in cash costs.
so if A$54, the margin is over 20%, if !$61, the margin is still 15%.
BCI 92mil cash and under 50mil debt as of Sep.
besides all the doom and gloom, personally I have never seen a real business that has become the backbone of the country with competent management, and full support of Federal and State government, came back to cash back.
