FEX 3.03% 32.0¢ fenix resources ltd

Price of Iron Ore, page-1674

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    April hedge 50,000 tonnes @ a$170.25 p/t.
    average IO price us$105.95 p/t * 1.51 = a$159.98 p/t.
    a$170.25 - a$159.98 = a$10.27.
    50,000 * a$10.27 = $513,500 FEX win.
 
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