my fy13 revenue estimate, page-15

Righto, after considering some feedback and spending a couple hours on this one, I have come up with a much more detailed forecast.

I consider it to be quite accurate, all of the figures are accurate, right down to the latest company presentations. The volumes are accurate, the average iron ore price I have used is volume weighted on Atlas' exports, the expenses are accurate and I have checked it against actual 2012 figures to ensure the accounting is accurate.

Real term production costs came back at $90/t, which probably means that at the current iron ore prices of $110, Atlas are just above break even - however this does not account for the double edged effect of a lower exchange rate now. 70% of Atlas' exports are already contracted this year and they have a solid cashflow, not to mention its tax position in regards to MRRT and income tax.

Ill admit I hadn't accounted for a few costs RiverSheep but the difference is certainly not the $45/t you were talking about... That would have equated to $315m missing from the numbers.