Break Even???, page-26

wait I had a brain freeze

just saw the rest of the text

"average magnetite C1 unit cash cost (mining, processing, maintenance,
rail, port and site administration) excluding depreciation and amortisation, corporate administration, sale, royalties, ocean freight, interest and financing costs was approximately"

Im not too worried by depreciation and amortization since thats accounting trickery that impacts accounting profits

its those other bits that will impact the import stuff which is cash flow

so assuming $75-$85/t well we are almost there at break even

all depends on how far the Fe price runs, I have a feeling it will go at least over $100/t and wouldnt be surprised to see $120/t