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2.6¢ gindalbie metals ltd

http://finance.sina.com.cn/futures/quotes/I1605.shtml + 20%...

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guennadi

1,118 Posts.

11/04/16

16:39

Post #: 17474795
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Originally posted by samson ↑

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.

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GBG Price at posting: 2.0¢ Sentiment: None Disclosure: Held
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