accaeric, so what's your conclusion in terms of cost base amongst mid tier? is the slide below still relevant?
http://diggersndealers.com.au/wp-co...6-Diggers-and-Dealers-6-August-2014-FINAL.pdf
in June quarter, BCI's sp is above $3.50 for sale price
[email protected] exchange at cost base 10% above current rate (AU$68), so Sale AU109 - AU68 - AU8 FOB = $33 per ton, minus extra capex per ton,
we call it $30 per ton profit 6 month ago. now, $5 per ton profit.
$3.5 a share, that's about 700mil MC - net cash 105mil = 595mil which equal to about $2.97 a share with $30 profit per ton
62c a share, that's about 122mil MC - net cash 54mil = 68mil - IOH asset call it 30mil = 38mil which equal to 19c a share with $5 profit per ton.
so my conclusion is BCI's share price should improve by 15c (11c for NJV and 4c for IOH) for each $$ increase of IO price.
