What happened to the USD$215 that they quoted 4 days before shipping?
The high grade (~65% Fe) Apurimac Premium Lump DSO product is expected to provide asignificant premium to the 62% Fe benchmark price, which is currently ~US$215 per tonne; thecurrent Lump premium of ~US$0.50 per dry metric tonne unit translates to an additional ~$US30per tonne over the current benchmark price.
Absolutely did NOT hedge as they are trying to make out. 66% should be getting well above market premium, Strike are getting played by their Chinese constituents. Management yet again missing the mark.
Ann: Peru Iron Ore Update and Hedging Position, page-4
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