dso ready for shipment, page-5

"The Shanghai Spot Price for Copper is approx. $US1040 higher than the LME price.
Delivery of refined copper product within mainland China is currently fetching significant premium to LME pricing for spot copper, recently quoted to the Company at US$8,400 per tonne, so remains a significantly attractive option.
The premium over LME pricing not only covers the cost transporting the copper products to China, but results in significant premium over local sales."

I hope the company realises that shanghai spot includes 17% VAT?

Current spot quote is 50,500 CNY/tonne. (source: bloomberg). This translates (at 6.1433 CNY/USD) to US$8,220/tonne, inclusive of 17% VAT, or US$7,025 ex-VAT. LME quote: US$6,977

How are they going to pay for transport when they have to pay 17% VAT once it hits dry land!!!!!

This company is hilarious.