profit for this quarter, page-11

Islader, couple of points re projected profit for the Sept quarter:

1. Net operating cash flow for June quarter was $20.5 million plus part repayment of bad debt from Monarch ($3.25Mill) plus asset impairment ($1.25 million);
2. June quarter had production of (approx) 539,000 tonnes but (approx) 564,000 was shipped thus it received in that quarter the benefit for 25,000 tonnes sitting around from a previous quarter;
3. Annual report (pg 4) refers to iron ore prices having "corrected" from recent highs and a stronger aussie dollar offsetting "the benefit of the increased prices";
4. There will likely be repayments in respect of the Monarch debt each quarter ($13.6 million is still owing as at the date of the annual report although I am not sure what was repaid from 1.7.10 to that date).
5. I also note the annual report talks about the Noble debt now being repaid in the 2011 financial year - the previous talk (mid 2010)was that it would be repaid by late 2010;
My point is that I am now guessing a net operating cash flow well below the $20.5 million for the sept quarter - plus any Monarch debt repayment.