To make matters worse the manganese ore price has collapsed as...

To make matters worse the manganese ore price has collapsed as well. Now down to US$4.43/dmtu CIF China.
Losses will increase further.
It costs A$127/t to the mine gate = US$2.80/dmtu
It cost A$201/t to the port = US$4.43/dmtu
Freight cost is US$18/tonne = US$0.60/dmtu
Discount to OMH for buying and selling in China 10% of selling price = US$0.43/dmtu

By my calculations at the current Mn ore price E25 =US$4.43 + US$0.60 + US$0.43 = US$5.46/dmtu

So E25 is losing US$1.03/dmtu or A$47/tonne.
On 300,000 tonnes annually = A$14 MILLION LOSS
Sounds like good business.
OMH is doing OK they make a profit regardless.