anyone out there a follower of this stock?,current price 12 c.market cap 139mill. traded there all day on light volume whilst peers did not fare aswell.fundamentals stack up very well,making good money at the current IO price as they produce pellets which fetch a premium on market ,although more expensive to produce,a falling oz dollar will really help this stock(maybe a rate cut next rba meeting) . the company made a loss of 110 mill,all due to an impairment of 180 mill.(the mine was worth 400m when io price high now low ,is valued 200 mill)sort of clever or should I say typical of corporate!!avoid paying tax and lap up the cashflow,capex slowing as big money has been spent,new tailings storage,upgraded truckfleet,and I think around 150+mill in bank and reasonably debt free.operating profit after tax of 76 mill,and paying back to shareholders 1c divvy.which makes it a good yield play ,if it can be sustaine ,and history suggest that they dont mind paying.8%atm.net tangible assets 40c+.price is less than cash in bank with a p/e ratio 1.8,..technically ,is in a longterm down trend,consolidating and has made a higher low on the daily,if 9.8/10 c can hold,current resistance 12.5/13.5.and a bit of volume creeping in over the last couple of weeks.i hold with a target 16.5/18 if breakout occurs,.stop loss at below 10c,now breakeven.worth a punt imho,dyo research.this is not advice! P
