There are a lot of ifs and buts, but briefly I'm looking at a rough view. Say Iron ore gets down to $US 130 (plus high grade premium and lump) Aus $ say 71c (if IO comes down possibly Aud $ will come down further) that is total income Aud $183 per ton ,total costs as per last quarterly FOB was Aud $160 (aud $120 plus aud $40 freight) net $23 of which we get 70% Net profit $16 per ton for 1million tons is $16 mil pa plus lump and higher grade premium.
Another ship lining up tomorrow, page-26
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