I was just flicking thru some iron ore reading of a newsletter (PLATTS SBB STEEL DAILY):
The newsletter is dated Sept 1, 2016
As you can see, even back in September, the 65% Fe CFR is achieving a premium of almost $10 over the standard IODEX 62% Fe benchmark price.
GBG announced in the last quarterly report (July-Sept) that iron ore sales generated a measly US$0.73 as a premium. The only difference i can make out is that Karara posts on a WMT basis and the chart below uses a Dry Metric Tonne. Not sure what the difference is.
Someone is obviously playing us shareholders...or is there a simple explanation??
GBG Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held