EPS estimate

According to Custeel the average 65% Fe price for the quarter (Jan - Mar 2021) comes in at US$190/t

http://www.custeel.com/en/csi.jsp

CIA total costs CFR China = US$65/t (same as last quarter)

Profit margin US$125/t for this quarter.

Based on 1.9 million tonnes sold (same as last quarter) then EBITDA is US$237.5 million which is CAD$298 million.

This is 40% higher than last quarters CAD$212 million.

EPS last quarter was $0.25 so 40% higher is $0.35

Less 2.7% dilution from warrants etc... then minus 1 cent off EPS

EPS estimate $0.34

FY2021 $0.99 (adjusted $1.02)

Based on these numbers the share price should be trading $6 - $7