Ann: Update - Dividend/Distribution - CRN, page-4

@barrybigjobs

It is a pretty easy buy in Big Bas... has been for 9 months. This is about to shine, no doubt on that one.

I probably would work off 15Mt though and, as US have 1/3 at fixed contract US$184 (which covers the entire US cost of production mind you) - it also allows for some wiggle room... still provides > US$4.5B at $400/tonne, and we have been there now for circa 6 months.

Here are a few historical values (and all in US$). Note: anything over US$200 is significant profits;

2021 - Sept 14 - US$360
2021 - Sept 21 - US$399
2021 - Oct 19 - US$400
2022 - Jan 28 - US$442
2022 - Feb 25 - US$458
2022 - March 17 - US$671

Above US$400, which it has been for 6 months, will provide over US$4B annualised. which dwarfs companies such as NHC and WHC. So regardless of the SP (for now that is), expectation is it wlli adjust in line with dividends, as the yield will turn heads!

Also 1st Feb, 2022 - 7th fleet has been added, so production has increased at the right time!