more ore at roper bar iron ore project , page-8

Thanks for that post tobyjack.

After hearing the reports from China's Third Plenum, and the USA planning to continue their current monetary policy; the demand for iron ore will only increase. The spot price for IO should not drop much from the current $140/ton.

So WDR will be making approx half of their market cap in Net Profit if they hit their target of 3mtpa ( $200mil EBITDA -30% = $140 Net Profit) that is a forward 2014 PE of 2.

They will have their debt paid off in under 1 year with the first years production hedged at $120/ton

WDR have 50mt of DSO so that is a mine life of 16 years just for the DSO , not to mention the 400mt of 40% IO and the 2-2.5 Billion ton resource target.

They would also have ideas of increasing the shipping target.

So many boxes have been ticked, so much potential. I think that they could be paying a healthy dividend in the next few years.