Hi rcman If you are going to quote me, please do so correctly....

Hi rcman

If you are going to quote me, please do so correctly. What I have said is the realised WET price was 23% discount to Spot. And if you refer to the 2015 accounts you will find that I was correct. The 9% is the DRY realised. Actual price received is not $51 as they claim, because they do not sell DRY they sell WET.

Having said that, there is no doubt that the grade discount has reduced dramatically this quarter. Refer June quarter and compare it to last quarter.
So the question for me is what is the WET discount now? 13 to 18%? Not sure.
I would prefer the company quote actual WET prices achieved, but we have been there before.
By the way, I hold, so I am not disappointed by the results, however, I hold the same views as expoused by another poster who has said that he would like to see details prior to getting too confident. eg Do we know when interest payments are made? Are they on a monthly basis? Raw cash figures as presented are not very informative. Still, the market liked the report and at the end of the day, thats all that counts.

Pear