Thanks for that post tobyjack.After hearing the reports from...

Thanks for that post tobyjack.

After hearing the reports from China's Third Plenum, and the USA planning to continue their current monetary policy; the demand for iron ore will only increase. The spot price for IO should not drop much from the current $140/ton.

So WDR will be making approx half of their market cap in Net Profit if they hit their target of 3mtpa ( $200mil EBITDA -30% = $140 Net Profit) that is a forward 2014 PE of 2.

They will have their debt paid off in under 1 year with the first years production hedged at $120/ton

WDR have 50mt of DSO so that is a mine life of 16 years just for the DSO , not to mention the 400mt of 40% IO and the 2-2.5 Billion ton resource target.

They would also have ideas of increasing the shipping target.

So many boxes have been ticked, so much potential. I think that they could be paying a healthy dividend in the next few years.