Don't disagree that if it doesn't find a base AGO may be in loss after June 2017 ... but next quarter but they have 1.85 million tonnes hedged according to their report (of 3.8 max output for second half) & from the September 2016 quarter, before the big price hike, they banked $24 million free cash at $A56 average price.
"A$24M generated from operations after interest and contractor profit share. 4.1M WMT shipped (June 2016 Quarter 3.7M WMT). Average realised price of A$56/WMT CFR (June 2016 Quarter A$57/WMT CFR). Full cash costs* of A$50/WMT CFR (June 2016 Quarter: A$49/WMT CFR)"
Don't disagree that if it doesn't find a base AGO may be in loss...
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