Iron Ore price dropped 20% from 216 to 180 usd/t
Last Quarter at $215 62% IO we had: $278 Revenue - $37 shipping - $120 Costs = $121 profit * 70% = $84 p/t profit for GWR
This Quarter at $180 62% IO we are: ~$222 Revenue - $37 shipping - $120 Costs = $65 profit * 70% = $46 p/t profit for GWR
3 days of IO retrace was all it took to cut our profits in half
Ann: June Quarter Activities Report and Appendix 5B, page-23
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