Ann: Sales Contract executed in Brazil market, page-5

This announcement has been so underrated
Usiminas is a huge global steel producer and consumes 13x what Tombador produces annually. With a 19 hr road freight trip from Tombador mine to Uminas steel mill my reasonable calculation would be around the $50 / tonne for haulage. At todays prices this leaves an extremely healthy margin of at least $100 / tonne.

with 65% fe product, why wouldn’t they be keen to use as much as we could possibly supply. Even just 10 truck loads per day would add circa $20 million cash to Tombador’s profit per year.

I couldn’t care if it takes a year to reach steady sales with Usiminas it’s the connection between the two that plays an important role moving forward. regular supply to a massive consumer.

This is a great announcement for Tombador