Page 5 of annual report shows nil revenue from magnetite. Is the "magnetite" they shipped worthless??? Can't find the magnetite revenue anywhere in the report!
As another note, they produced 4.041 million tonnes of iron ore (dso and mag) and received $249.3m in revenue. What price are they getting for the ore? This equates to $60/ton. Given ore prices were so high, this seems very low. 40% of market price?
They have shipped 1.8mt of high grade dso and 0.9 ton of 62%mag so the remaining 1.2mt of medium and low grade dso must be so bad that they have to pay the Chinese $50/t to take it.
I actually feel like KML forgot to put magnetite revenue into their report... Or I'm an idiot that can't read. Someone please tell me I'm an idiot who can't read!!!
Dyor (then explain it to me please)
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