Pellet Price, page-76

It's interesting to note that they paid five cents in dividends for the FY11 and they had the same number of shares on issue and the same controlling Chinese shareholder which says to me that they are not adverse to paying decent dividends. Their financials at Dec11 were net cash & trade receivables of $232.5mil and we're now fairly sure that cash and trade receivables at Dec17 will just exceed $200mil so final dividend for FY17 payable Mar/Apr18 should be an absolute minimum of one cent requiring $11.5mil as they'll probably increase cash/trade receivables by $40mil in the March18 qtr and I would expect two cents in Sep/Oct18 at a minimum given current IO pricing.