Go back and read the March 2017 quarterly and the June 207 quarterly!!!!!
They only hedge 1 million tonnes...
March 2017 quarter was at approx 94AUD rest of IO was a 62% minus discount.
June 2017 quarter I think was 1 million at 70aud per tonne.....the rest applies as above...
They hedge 30% of IO shipped to cover costs this is smart!! Or to limit losses!
December 2016 quarter AGO made shitloads....
$55 is the average price they got for all sales with this strategy, they don't hedge 100% at this price!!!
This quarter we are well on our way to making a fair wack again and next quarter if the trend continues will be better......
A lot of you need to read the quarterlies it's all there...
We made 9 million in a bad quarter. This result was outstanding!!!
We have had a lot of great contributions to this forum over the last 6 months in a down market.....
Just because you guys wants the MD to produce a 6 legged dog doesn't mean he can just pull it out of his @$$....
Time and IO price tells the story....
Yes I am frustrated hahaha
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