Next Ship Load, page-25

I think it’s about 0.08Mwmt. They’ve shipped 0.46 already, and had shipped 0.3 when they made the forecast of 2.0.
TBH I agree with you that reducing to 1.3 wouldn’t be a problem in and of itself. The problem I think is that management seem unable to forecast accurately even just 2 months ahead. That smacks of a management disconnect from reality and points to a lack of understanding what’s actually going on at their mine. It’s suggestive of deeper problems. Did they really not know there were going to be no ships for a month when they made the last forecast? And if not how can I believe their other revenue projections further out that I would rely on to believe a $1 valuation?