AGO 0.00% 4.5¢ atlas iron limited

4MT at $11 margin = $44mil cash flow positive, page-3

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    "Atlas achieved an average price after hedge impacts of A$70/WMT in the December 2016 Quarter excluding Value Fines and A$66/ WMT inclusive of Value Fines (September 2016 Quarter: A$56/ WMT and A$54/WMT exclusive and inclusive of Value Fines)."

    My understanding of above paragraph is:
    -  Average price of A$70 for Standard fines + Atlas lump
    -  Average price of A$66 for Standard fines + Atlas lump + Value fines

    Can more people contribute to analyse this misunderstanding on my part or this discrepancy please?

    If A$56mil is correct for last Dec quarter, then my estimate for current March quarter cash flow would be in the range of approximate A$85mil-$105mil if IO price stay above US$80 for the next 2 months Feb and March.
 
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