I crunched some numbers for last quarter based on IO price average of US$120/t for CIA product & shipping about US$20/t (shipping costs didn't take off until late in the quarter (mid-June).
Profit margin around US$58/t or CAD$75/t for the quarter
Based on 1.8million tonnes sold then EBITDA approx CAD$135 million (big increase on last quarter of CAD$86.5 million)
CIA/QIO did pay annual Quebec mining taxes of CAD$34 million in May 2019 so I ssume this will have some impact on net profit & EPS.
Overall, next weeks numbers should be a pretty good read given the elevated IO price in recent months.
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Ocean freight eating profits, page-2
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