Ill be first then.. new issue.. in a sector which should be robust for coming years..

Seems a reasonable punt to me.. get in quick if it starts to power north..

annoyingly no! I moved on when I thought there was little interest--too impatient!! good luck with yours though.

shame..

weeeeeeeeeeee..... :)

brilliant! I must learn to be more patient.

guess I'm to be lonely on this thread then!

I'll keep a green eye on you !

sold just over half my holding today.. makes what I have left very low risk..

I've got the jitters about the market over next few days.. maybe a huge drop on the cards stateside..

lol, how wrong was I? .. well Im glad I kept some.. thats one big fed spike in the USA. I wonder if it will drop it back come options expiry?

Well I looked at the chart today, and figured you probably did the right thing.

Did you know their interims were out today?



Ferrexpo H1 EBITDA jumps 119 pct on higher output, iron ore prices UPDATE
AFX


(Adds details throughout)

LONDON (Thomson Financial) - Ferrexpo PLC, a company set to join the FTSE 250 this month, posted a 119 pct jump in first-half EBITDA as sales grew 39 pct helped by higher production and iron ore prices.

EBITDA surged to 112.3 mln usd in the groups's maiden results from 51.2 mln in the year-earlier period. The company, which listed on the London Stock Exchange's main market in June, said profit rose 179 pct to 40.6 mln usd after initial public offering costs.

The company, which exports about 90 pct of its output to steelmakers around the world, anticipates iron ore prices remaining firm driven by continuing demand for steel from China and other industrialising nations. It said its iron ore customers remain largely unaffected by the recent volatility in the global credit and equity markets.

'We believe the current positive market environment for our business is set to continue, with the outlook for steel, iron ore and particularly pellets remaining strong globally,' said chairman Michael Abrahams.

'These trends are likely to continue throughout the second half of this year and beyond,' he added.

The group is the only pure play iron ore producer as well as the only Ukranian company on the main board of the LSE.

Ferrexpo said its production costs remain broadly flat, despite high Ukrainian inflation, and that in real terms its costs have fallen. However, the company warned that it is facing increasing cost pressures on key input prices and competition for skilled labour.

It said it is looking to accelerate the commercialisation of its undeveloped ore deposits and is considering several options, including involving outside parties. The company has the fourth-largest iron resource in the world on a Joint Ore Reserves Committee (JORC) basis.

Iron ore production for the six months rose 15 pct to 14.4 mln tonnes, while pellet output grew 19 pct to 4.7 mln tonnes. It noted that product quality also improved with the volume of high-grade pellets, those with iron content above 65 pct, gaining 14 pct.

During the first half, Ferrexpo purchased 223,000 tonnes of concentrate to produce additional pellets. However, higher prices mean it is now difficult for the company to achieve an appropriate margin on pellets produced from purchased concentrate and so the group has scaled back purchases of concentrate until market conditions improve. This may result in the business producing less of this lower margin product in the second half.

The group said it will not pay an interim dividend but plans to declare a final dividend of not less than 10 mln usd.

excellent results even with a mini warning in them---I think I'll look to buy back on any weakness if I can.

yes pretty decent

as long as the markets hold up Ill hold... Ill bail if theres any big drops