Ann: March 2018 Quarterly Activities Report, page-46

what r u talking about, I know all about the FMG "guidance" ann

Since March spreads have narrowed from what i have seen people on the ground in china say + the proof is in FMG share price at the exact same time it bottomed.

AGO discount was 37% for the qtr

The discount is narrowing not widening, FMG was a guidance set some months back, it didnt increase, it didnt decrease as they expected at the time. Better underpromise and overdeliver, thats what that ann was about. Post stocks for lower grade have decreased at the fastest pace since 2013