Yeah i agree auto. I brought some 2 years ago for around 20...

Yeah i agree auto. I brought some 2 years ago for around 20 cents when the cash backing was around 30 cents with the insurance component unknown.

I guess sometimes the market throws up an opportunity like this two years ago. There is uncertainty about iron price given the trump tariff and what will that mean to prices. But as you outlined on the weekend with 480m in the bank and 33% of koolan island already spent. If they still end up with 400m in the bank to get it online. Then they are still trading under nta. So gives u a level of confidence.. that they have no debt and if markets go south..they arent go to end up in trouble.

Brought 100k at 38..another parcel of 150k at 37.5 and 37...got another order at 36.5. Might not be the bottom...but given there cash position... makes it easier to sleep at night.