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Gretelle 07
9 Market value Sorry to burst your bubble on what the fair market value is, but at current iron ore prices it's Zero. The mine is uneconomical at current prices and will lose money even after the huge upfront investment that is needed. What would you pay for an asset that is going to cost you money to own? Nothing. It only has a value if you think IO price is going back over $90 (a realistic break even price), no-one is forecasting that and no-one would base an acquisition business case on an optimistic return to these prices. That IMO is why Glencore etc aren't involved (who could outbid SSIG should they wish), it's simply because they aren't interested and certainly IMO wouldn't pay anything that would leave shareholders with anything after settling the debt..
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