Should add. Cash will have another 7 weeks so far this quarter .say at 190 / t av = A255 less 120 less 30 less 17 R = approx 90/t x 55kt per ship x how many ships so far ? 4? X 70% = 14m
just a quick guess without looking up actual total shipping
so maybe 37m cash would be fair today
= 11c per share cash backing
Ann: C4 Iron Ore Deposit - Production Update, page-41
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