Ann: Iron Hill Environmental Approval, page-3

NewB

I do agree with you re the board getting on with it.

I should point out that Iron Hills 5 million tonnes at todays prices should yield a profit of around $15 a tonne so Iron Hill could yield $75 million in cash. So yeah while it's small it should at the very least justify this stock trading above cash backing for a bloody change.

Personally I'm hanging on to see if they restart Koolan Island - that ore is top quality that gets a premium to the benchmark prices - so in todays prices it would be yielding around the mid $80 in US dollars and around $110 in AUD. If you go on Macquaries estimate of $35 a tonne cost for KI, and a reserve of around 15 million tonnes that means KI would yield over $1 billion in profits in the next five years. (15 * 70 = 1050) less the capex to start up. (less than $100 million)

I'd like to see the board start a share buyback or use up the franking credits - given the stock is trading at a discount it's a riskless profit - given their inability to execute any other deals it the least they can do for shareholders.

GLTA/IMHO