consmin uk broker report, page-3

Chrome ore is rocketing in China, this could mean an extra $30 million to ConsMin in the next six months.

[4-4] Ferrochrome prices rocket universally
[4-4] Chrome ore prices keep increasing in Turkey
[4-4] Chrome ore price overtops RMB65/dmtu in China

Chrome ore is fetching over RMB 65/dmtu. This equals US$8.40/dmtu or US $352.95 /ton for 42% chrome ore. Last year ConsMin received US$160/ton or AUD$199/ton. Cash costs are AUD$124/ton. Using the same cash costs, and the latest chrome ore prices from China, this could result in $40 million dollars profit for the next 6 months. Yes, ConsMin management will say that I've forgotten to add in seafreight and commissions, but we can deduct those from the equation and it will still leave a tidy profit. Of course if the management told us how much they paid in fees to Noble Group and freight, we wouldn't have to speculate. But lets say AUD$30 million.