2019 AGM - CEO Presentation, page-4

I have been still following KML's exports.
Interestingly, in the 6 months to December 31 2019 (the period that Ansteel has 100% ownership), KML exported 74 ship loads of material. For the same period in 2018 the total export was only 67 ship loads, and for 2017 it was only 66 ship loads, and in 2016 it was only 67 ship loads.
The question that must be asked is what caused the 12% increase in exports.
If one was cynical, one may form the view that there was an intention to limit exports during 2016 to 2018, as 2013 to 2015 the ship loads for the same period were respectively 67(the first full year of exports(2013)), 78 (2014) and 80 (2015). However 2013 to 2015 included DSO and therefore should be excluded.
I will keep monitoring KML's exports and keep people informed of the levels.
I have to go back to the de-merger documentation to assess the financial implications, but given the additional export volumes it may be found that KML is turning a profit. One a rough annualised view of the income due to the increased shipments, the additional income is approx $150m.
Class action anyone?