They did mention in the report a decline in their FE%, whether that was material enough to have noted previously to the market is upto you. They therefore received a discount to the Platts index in the quarter.
Sept quarter was $129.2 realised FOB price with shipping costs of $34.4 = $163.6 vs Platts of $162.9
They state the Platts average for the quarter was $109.6
Realised FOB was $56.0, shipping costs were $33.5 so total of $89.5 compared to Platts of $109.6, which appears to be a sizeable discount though I think the $13.50 of prior month adjustments reduced the realised down to $89.5, from $103, so essentially a discount of about 6%. I'm not sure that was worthy of a market statement to reflect that.
The hedge would have increased this amount. I'm not sure what to yet, lets wait and see what the half yearlys show. They didn't state anything about the hedge for December as the cash would have been received in January, but IMO they should have, much like why they stated the $5.9m that was shipped in December (hence the cost was paid in December). There certainly seem to be some timing differences in terms of cash with the cash loss that they are showing, with the big components being the $5.9m receipt received in January (the cash cost of operation would have been within the quarter) and the US$4.6m of prior period adjustments (around A$6.3m). The 2 of those amount to around $12.2m which explains the cashflow loss in the period.
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