Ligo, WTT, Locky....
$4M for 35,000tn is a joke. It doesn't make sense. US$2.80/dmtu (!).
shipping cost should have been better than last qtr.
1) are they getting claims for quality? Clay?... Rocket... is this an issue?
2) have they perhaps produced 28%.... and us the 44% discounted figure we assumed (15%, staggered so it is worst than proportional as grade drops?
3) perhaps the have been using the cash upon delivery to port during January and hence realised much lower Mn price before it started to raise....
good support at $0.80 ( historical support) thank God.
It will be ideal a April production level announcement to provide some confidence that things are getting better....
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