I wasn't suggesting that GBG recieved $100+ per tonne. I simply asked the question on what the current IO spot price is for 66% FE.
Guennadi replied that the current price is 520 chinese yuan, which equates to $105 Aust dollars (as at the exchange rate of 7/4).
So my question simply is: if GBG has confirmed (in their Jan Q report) that Karara uses the Platts 65FE price to sell to Ansteel, then on last week's exchange rate, we should now be earning upwards of $100 per tonne.
The $52 price that Karara has been selling at was for the period Oct-Dec2015, when the benchmark price of iron ore was at rock bottom.
The next quarterly, due by the end of April will be interesting reading - to see whether my assumptions are correct.
GBG Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
