thanks for the respecting my views which may not reverberate in this echo chamber. 10 M tonnes production is 4 times GRR annual production so not that paltry. There are pellets (perhaps of a different mineralogy) being produced in other parts of the world (Canada, Iran) not just Brazil so I'd DYOR. From memory the 5c divy was on the back of some pretty high pellet prices in 2011, quite a bit higher than they are now. My experience has been that there always been another cap ex project, blowout in C1 cost, SDTSF delay, fleet upgrade, mill replacement cost, extra stripping required .....which justifies the low divy's return to shareholders. Who knows what management have planned this time round.
Pellet Price, page-176
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