so whats wrong with a forward sales thingy, page-3

Devil is in the detail,

John how do you get forecast earnings to come in at 50% of forecast. Can you post the maths you used.

From what we know its a "$US44 million magnetite concentrate pre-payment agreement" there was no mention of it being net or gross of costs. So we can assume the $44 million is brought into this tax year 2012/2013.

Assuming its up and running to speed in July that would give it 11 months at full production rate. But 11 months full run rate at current AU$ and Fe is well over a $billion in revenue.

So how did you get it being 50% of earnings forecast?