I wonder how large a profit they will declare for the 12 months...

I wonder how large a profit they will declare for the 12 months ended December 2016?

Iron ore pellet pricing in AUD has picked up a lot in the second half.

First half results were $32,844,000 for six months. They were able to do this in low price environment due to selling extra inventory.

In the second half the prices realised were much higher and hence maybe similar result whilst maintaining same inventory levels.

If so thats > $60 million profit. Based on todays closing price the market cap would be $200 million with around $150 million in inventory/cash.

So on a EV of $50 million (that 12 months ago was actually less than Zero) we have a company potentially making $60 million profit.

Oh we still remain so cheap at these levels. Bring on an annual 2c divvie and we should be well above 30 in no time.