re: Ann: Arrium Mining Quarterly Production R... I think this is...

re: Ann: Arrium Mining Quarterly Production R... I think this is NEW.

"Progressing well with divestment program
• Have completed/under contract, divestments
~$120 million
• Expect ~$90 million cash proceeds in 1H"

I only had two sales $19m (3/09/2013) and $23m (14/10/2013)

I now have Net Debt reduced from $2,115m to $1,850m this half!

*******************

"CFR market index price averaged US$133/dmt quarter.

Arrium’s average realised price was ~US$113/t FOB (dmt)"

JGunter99, $113 FOB is VERY good!

You have to know the difference between CFR and FOB? Freight!

$US113 * 1/0.916 = $AUD123

Profit Per tonne = $123 - $49 - $16 (other costs) = $58

Implies Mining Q1 2014 EBITDA = $58 * 3.13 = $181m