The Dawn of EV, page-944

Pretty sure the benchmark we use is


Its then adjusted from CIF TIANJIN to FOB Port Hedland
Adjustment estimate ids in the PFS
The allowance was 0.39 which as far as I can see is@USD13 per tonnes when it should have been closer to USD18
Irrelevant now.

Lets not sugar coat this. Justin has known since the July shipment that there was a problem.

IMO until shipping costs normalise somewhat there is no point in ramping up any further.
They have to keep shipping because burning $10m a quarter is unacceptable. Even $5m is better!
You can stockpile for a while but still boils down to the same thing, shipping costs need to keep dropping and or the commodity price has to rise.

We are not talking miracle moves here.
Commodity prices where they are and shipping at over double PFS levels and no ramp up and we are pretty much breakeven when we start receiving the mineral credits.

Other companies are reducing output. Shipping will normalise some. Commodity prices will compensate some.
People aren't making money they produce less. You still need it you have to pay more.
Probably won't sore itself out this quarter, but at least it is already headed in the right direction.