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It took me a long time to get my head around the business of Ferrexpo.

When I say Dec $20 per ton. I'm referring to the Atlantic futures premium being paid on pellets , I meant to say $20s as in mid $20s.... So things are looking quite good here. 1: Ferrexpo should enjoy a 2016 net profit pf $310m , before tax and debt repayments . 2, the pellet premiums are holding up nicely , as is the base iron ore price , 3 country and currency much mores stable 4 production. Is up slightly 5 production of quality pellets 65% continues to increase 6 new age better customers adding to the companies options 7 the glut in iron ore is in low grades . Pellets remain in high demand . 8 biggest producer is still out if production in Brazil until 2017 at least . 9- no Capex here this year or only $20m for grinders at milling stage . .......so, Ferrexpo has a golden opportunity to reduce its debt by $400m over the next 24 months . And be debt free within 5 years, leaving a long term asset worth $2billipm producing $300m a year profit . I don't see iron ore falling lower. Even if it did Ferrexpo is , 1;a low cost producer 2,sells the in demand pellets that are less price sensitive 3 oil drops with ore proving a natural hedge protection . 4 mixed customers but mostly in Europe 5 nobody can sell pellets as cheaply as Ferrexpo into the EU so it controls pricing to a degree . This is a red hot buy !!!!! The price has bottomed out . Once the debt clears here the market cap will 4X . DYIOR.

With premiums running at $30 per t for pellets , the Dec is $20 per month.

Samarco , won't reopen this year, and with them supplying 20% of the global export market , means Ferrexpo has more breathing space . I read the pellet premiums are $30 at the mo. No wonder the SP is moving .

40p .... For those that held on... Cheers

It would be great to see this crack 40p. Iron ore at $60 as opposed to $50 doubles the operating profit here. makes things a lot easy in the CFO office I bet. six months of this will add a further $60m to the bottom line.

It would be great to see this crack 40p. Iron ore at $60 as opposed to $50 doubles the operating profit here. makes things a lot easy in the CFO office I bet. six months of this will add a further $60m to the bottom line.

Sailing close to the wind, Ferrexpo needs all the breaks and breathers it can get. It needs $48 a ton to get through this debt mountain - that's the average for the last 6 months - this weeks $60 iron gives it $120m clear cash flow of the price holds - luck is here for now

Car sales up in Europe and globally by 5% this year . Luxury brands doing even better . The order book here must be looking good !! Ukraine looking a little more stable too.

Hi Kev, SibK is not at zero cost, a loan was provided, but I think that is what you meant, that no immediate cash is required for it, or at least a major portion of it. Sib could produce 6000 bopd, The Hz drilling wells has really become a game changer here. 10 Hz wells in Sib at 600 bopd each and suddenly we have 10,000 bopd, or 3,650,000 a year. The real size of Sib is unknown, could be 50 million barrels there. Not to mention the parts of the license that have not been touched in the north, or indeed license 67. It's been a long and cruel journey here. But 2017 is going to be huge for PTR. As for Natlata, I think they now realize this is a very challenging oil license that requires the very best engineers, planners, seismic analysts, and crew. Natlata can't offer that. That's the role of an Major oil company, Oil India fill this expertise void. I think Natlata are happy to sit on the BoD for the moment. even if they ever take the company over, Oil India will control the technical side of the license.

that's pretty good. Nice to see an unplanned well being added…. some good unexpected news. Wells doing 'well'.

that's pretty good.

The newspapers say the share was suspended today. That's not what happened. what happened was the share went "INTO AUCTION". This is a type of suspension, but it's very temporary, usually minutes and only 'suspended' to allow the MMs adjust for the falling price…not what we normally mean by 'suspension' which requires an company announcement and can last days or months. technically the share is suspended every day as it always opens 'in auction'. So more dramatics

Great result from The drill . But the future is in the next one

Next? The board is meeting with Oaktree to decide the next move . They can either torture is and themselves with the Spanish appeals system , that could delay things up to a year , or pay off the vexatious pest ( not Oaktree's style - who would spend €5,000 chasing a pinched €50 ). But for the sake of 'let's move on they might pay ). But it's not their style at all, and they are not worn Out like us long timers here.

do these grades look good? I'm more of a gold man

The change in the Plant currently underway will help increase volume, somehow. This was never quite explained how. was it? still 3,200,000 cts a year is a real step forward. More talk of potential sales channels' doth butter no parsnips' . I wonder why Bernard did not make a comment and left the announcement to the Chairman.

Institutional investors won't stomach BoD rewarding themselves unless the profits are in the bag, good call to wait for first quarter profits, First Half would have shown more confidence as a Q blip can create profits, with loss making quarters either side of it. wonder if the there has been press coverage.

Hi Graham, the short of it is, they got the mine up and running and producing n selling sapphires. teething issues and other marketing set-backs have taken the gas out of early gains. investors awaiting the latest report and news. The shares look cheap, but they are not without risk of course. could be worth a small slice if you have the appetite for risk, but many will wait for concrete news I guess.

bonds detail in the AR, the short answer is they are spread from now to 2019. It's a tall order, however, if they manage to get the bulk of them paid, or even half of the paid, I think there will be a avenue to re-financing at that time. Indeed the Bond Holders themselves won't want a collapse, and hopefully if things stay as they are, the company will be making $250m a year profit, on a debt in 2018/19 of $500m lets say. Id'd say the BH would extend the loan term rather than inject new cash, but the company may choose to raise cash instead then. So this year and next year are critical.