1. Investment thesis
Ferrexpo's main business is the selling and distribution of iron ore pellets. The most important assets are located in Ukraine, a country which was involved in the Crimea Crisis in March 2014. As a result, Ferrexpo was heavily under pressure and lost a huge cash amount due to the collapse of its transactional bank. The stock price fell below 0.2 $ (!) in 2016 and the balance sheet deteriorated. However, Ferrexpo weathered the crisis because the iron ore miner achieved annual profits for the last seven years and rising iron ore prices