Interesting you say its 20% off the top for the MRRT, is that a confirmed figure in relation to MGX?
Does anyone know how the MRRT will hit MGX? I would suggest PRETTY HARD as they dont sell pellets and are making 'super-profits' and have no major capex or expenditure to use as a deduction. It seems it will be significant!
Although if you check the note in the half yearly statement, management said "our modelling etc shows a negligable impact of the MRRT" Dont see how 20-30% is a "negligable impact" - how on earth can they say such a thing in their half yearly report and get away with it?
Also I have one big question regarding corporate governance. If the board is now controlled by APAC, Shougang and ignoring the EH offtake to Glencore - what is stopping the chinese from again selling the ore to themselves at a discounted price???
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