Stan the IO price has pulled back marginally and the traders in...

Stan
the IO price has pulled back marginally and the traders in this space might have exited stage left. Personally I think the current AUD IO price is a God send as it has enabled nearly 10-12 m to be spent on ordering the mill change over equipment, significant waste removal and prestripping and some more spend on tailings. Although I was dissappointed last night to hear the cost of the mill change over, I do think to be able to fund this through what is essentially the free kick of higher AUD ore is a good thing, especially if it can be done while paying another divi at the end of the year.
In my view, its best to be well informed and be aware of what the costs are for the quarter and how much cash going to increase, only to be disappointed. The mill change will also add to production rates and decrease costs over the medium term, so after thinking about it, increasing cash after spending 10-12 m on mill equipment and continuing higher prestripping is not a bad effort. Lets not forget the AUD price has made the AUD IO price increase seem even more attractive