Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-162

An extra bit of late data. The new China quality standards apply from the end of September, I misremembered. So the junk China price steel mills have about 6 weeks to unload stocks. This in a very depressed property market, with developers falling over all over. Mills are holding about the minimum of 1 week of stocks, but rebar is mainly from electric arc and scrap metal so not sure how this all fits together. That said I have done my calculations and think that BCB will not only cover debt repayment and ripoff royalty but even make a smallish profit this quarter if no wild cards like unplanned haul road bills, or outages in the train to the ships. Not expecting cyclones but rain quite likely. La Nina.