I just re read the announcement and tried to understand what it really means in terms of annual shipments.
Essentially it is a 5 year deal for 4.7million wmts.
So the agreement runs from November 15 to November 20.
*From now to 31 March, 200,000 wmts will be shipped.
*From 1 April 2018 the shipment is supposed to be 1,500,000 wmts pa. So, from 1 April 2018 to November 2020, there should be around 3.75 million wmts shipped.
*That leaves 750,000 wmts to be shipped between 1 April 2016 and 30 March 2018 or 375000 wmts in each of those two years.
* Additional production must be offered to Rawmin as first choice.
*If earnings are $20/t (allowing for wmt conversion to dry) and around 950,000 wmts are shipped until 31 March 2018, earnings will be around $19 million over 30 months. (Excluding additional production that might be sold)
* At $20/t earnings for the following 30 months would be 3.75 million tonnes at $75,000,000.
So its close to a $100,000,000 deal averaging $20 million over 5 years (excluding additional production and assuming $20/t)
Have I got this right or can some one help me out on this?
Cheers Mulac1
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