Ann: Arrium Mining Quarterly Production Report, page-6

Projected Sales were 9 Mt from which they actually sold 4.21 Mt in first half FY 16 hence they estimate to have 4.79 Mt sales in second half.

FIRST HALF LOSS FY 2016
Sales 4.21 Mt x A$6.80 (A$51.00/dmt - A$57.80/dmt) = A$28.63M loss

SECOND HALF LOSS FY 2016
Estimated calculation for the next 6 months being conservative, worst case scenario:
Realised sale price US$33 @ US$0.65/A$ = A$50.77
Cash Cost A$60 (little bit higher than previous half)
Sales 4.79 Mt x A$9.23 (A$50.77/dmt - A$60.00/dmt) = A$44.21M loss

TOTAL LOSS: A$28.63M + A$44.21M = $72.84M which is substantially lower to A$140 Million.

Someone more knowledgeable please correct the above. Thanks.