That is correct @Berger978456 ... even if we were to be ultra...

That is correct @Berger978456 ... even if we were to be ultra conservative and say 65% fe only averaged $70USD for the next 12 months, which I highly doubt given all the Vale problems and a now declared reduction of 92.8mtpa IO from annual production in their quarterly report thus far (see linked post from @defabs on FMG thread) ... that $70 USD per tonne would be an average of $98 AUD at today’s exchange rate and so $50 round figures profit per tonne..... so 4mtpa on a very conservative $50 AUD per tonne profit gives us $200mpa profit before tax.... add to that a war chest of over $400m cash at bank and (again) being ultra conservative IMO we are at least a $2 stock @Samsonrises

https://hotcopper.com.au/posts/37893827/single