Hi Tabsuper,
D&A is not included in cash flow, here is what I said earlier on 4/7/2017:
- Total cost excludes D&A (C1/Shipping/Royalty/Interest/Admin) US$24/wmt
I think I was over the mark, shipping might be a lot cheaper than I thought, to calculate "cash flow":
Realised price is US$37.82/dmt x 0.92 (moisture) x 44.7MT (wet) = US$1555M revenue.
Net Cash increased by US$570M (exclude dividend), therefore total cost exclude D&A is:
US$1555M - US$570M = US$985M or divided by 44.7MT = US$22/wmt.
That is US$3/wmt improvement over First 6 months of FY17. Excellent work by the management.
DYOR.
Frank.
Iron ore price, page-2145
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