Ann: Change in substantial holding, page-252

stating the obvious, but for Q2...
i'm expecting good profit, but not great profit
lucky MBN's COP is reduced by the REAL which has offset the lower NP, avg lower than us$6 /lb... but, this will put us in a great position going forward
continued lower COP, as the REAL depreciate
increased NP (6, 6.5, 7 then all
= significant greater profits

hoping @tomboy can do the maths - he has been pretty close to the mark...

so go long & stay strong
GLTA