Ann: Quarterly Activities Report, page-87

Thank you for sharing that information sirrobbo ,I particularly appreciated the section focusing on Lindi Jumbo:

Impacts for Lindi Jumbo As a substantial coarse flake miner with a ratio of 26:74, it benefits from both the reduced supply of coarse flake by-product of others to sell all its coarse flake production but also at higher prices as there is less supply available. Also, with less producers producing fines there is less competition to sell its 10,400t of its by-product fines.

Paradoxically, the shut in of other mines may increase the demand for Lindi Jumbo coarse product beyond its planned production of 29,600tpa. By producing high value product from a high-grade mine at a lower scale, the fixed costs of the Lindi Jumbo mine are relatively small. The additional 10ktpa production capacity can be made available for no further capex & would result in a 25% reduction in the fixed cost proportion per tonne of production.

Therefore, Lindi Jumbo may benefit from the current circumstances in 3 ways:
1. A higher price for coarse material as less competing supply is available
2. An increased demand for its coarse flake as existing supplies become less available allowing it to use its excess capacity
3. A lower cost of production as its fixed costs are spread over a greater volume of production.

The only disadvantage is that the realised price for fines would likely be slightly less but this is only a slight change to 12% of its revenue.
This will likely result in a higher margin over greater production delivering not only higher revenue & profits but also greater profitability per tonne.