As pointed out by mineboy in another reply, it appears that the ship loading is slow (although I'm not conversant with what is a reasonable expectation).
Ship arrived on the 19th (and previous reply's indicate for a volume of 60,000t), assuming loading began the next day and if finished today (no info about this, pure speculation for the sake of calculation), that would indicate a loading rate of ~6,000t/day (the CEO stated shipping is going OK). Note sure if this is a reasonable figure for such operations.
bucks369 used a value of $50/tonne, so for the remainder of this quarter (May and June = 60 days) this gives 60 days * 6,000 t/day * $50/t = $18m (plus $3m for the first 60,000t shipment). This estimate of revenues of $21m compares to that of $25m made by bucks369.
At a rate of 6000t/day this would indicate a revenue of $27m per quarter (@ $50/tonne). So looks like they are cash positive?? Why the apparent dumping of shares??
As pointed out by mineboy in another reply, it appears that the...
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