Ann: Quarterly Activities Report , page-6

re sinter - from Alto Capital's note - you can work out from there matrix sinter goes for 30% of the price of lump. if lump is 45/t, sinter is 13.5/t. and last time I checked an MMX release lump was around 45/t, probably hasn't changed much in last few months.

Mar sales 4,419,000 for 174,983 tonnes
Dec sales 4,265,000 for 240,670 tonnes
Sep sales 3,706,000 for 126,766 tonnes

Mar = $25/t, Dec = $17/t, Sep = $29/t

I guess you are not including undersize, rom and waste. which probably go for $5/t, maybe??

either way it the sinter/lump ratio that's important. it's operating nowhere near the original plan/sales pitch.

and with costs of $18-20/t getting $45/t sales is a big difference from getting $30/t.

it's 2.5x the operating profit and probably 2x the mkt cap