I don't think so.
The first calculation is to get from wet cost to dry cost i.e. $41 to $46 wet to dry.
The second 15% reduction is to get from IO spot at 62% grade to FMG's dry price at that grade i.e. 85% of average spot at US$74/t equals US$63/t.
That's from my understanding now.
At least FMG quote their selling price without us having to do that calculation.
Wet/Dry Cost/Price, page-7
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Last
$20.24 |
Change
-0.440(2.13%) |
Mkt cap ! $63.67B | |||
| Open | High | Low | Value | Volume |
| $20.18 | $20.38 | $20.11 | $38.92M | 1.923M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1353 | $20.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.24 | 1011 | 8 |
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