massively undervalued, page-74

If only we can both ship more ore and get our prices down, that would be truely magical. The 30% cut rolling off for PRG going lower after the first 1Mt will also help a lot. We didn't ship that much less than FEX - I think they were 281Kt and we were 221Kt for the Qtr but they banked $45.1M to our $13.3M from what I read. That's a big difference. I realise that we are quite a bit further from port, have a 30% cut going to PRG and i think we got $7 per ton less on average over that qtr (they were $185 USD FOB and we were $178 USD FOB) and we were paying back startup costs vs. the other miner did a cap raise (diluted shares) to get started. Both seem to have different strategies popping up (probably due to mine life and resource size) single route to port vs. looking at multi port options - hedged vs. unhedged etc.. Just found it interesting to look at the differences in cash at the end of the qtr.

I expect Mgt are doing everything they can in this space (optimising costs). The next Sept earnings will be a good tell. After the 1Mt mark (which they are saying they'll hit in Dec) where PRG goes down from 30% to was it 15% (?) will be pretty interesting if IO holds around here.

I see Wen De has docked at berth 5. Doesn't look like loading has started yet but that will happen shortly. Keep the trucks rolling and the ships sailing! Still good money to be made at these prices.

GLTAH of both.