Maybe your $US900 is more a FOB price, is that what you are...

Maybe your $US900 is more a FOB price, is that what you are suggesting?

Yes thats correct Rota, its a very difficult to get an accurate picture of prices received as the final wash up for each shipment can play out over months...I prefer to try and be conservative .

Usually they are paid 80-90% on shipment and the balance of 10-20% is sorted out after refining with a quotation period in between and depending on what happens with prices in between dictates whether that 10-20% gets eaten into or added to. Other costs related to shipping etc are hard to quantify accurately.

The bottom line is the price of Spod is now around 30% up off its recent low so we will be getting around 30% more for shipments now than we were in January/feb and thats probably why we have dodged C&M ,so lets hope the trend holds firm.

Below from the Dec quarterly is a good example of the quotation period at work with sales made in the September quarter negatively affecting the Dec quarter, during rising prices that can have a positive effect, it all averages out over time and it's why companies don't give forward projections on revenue.

"The average realised selling price (FOB) decreased by 52% to A$946/dmt compared to the previous quarter. Lithium price indexes continued to decline during the quarter, leading to Quotational Period adjustments totalling A$6.1 million (A$254/dmt) which related to a prior quarter shipment. The estimated underlying average realised selling price achieved for the quarter (excluding Quotational Period adjustments) was approximately A$1,200/dmt."

Cheers Whisky