What do u mean when you say?: "from the intelligence gathered...

What do u mean when you say?: "from the intelligence gathered here on HC we know that shipping volumes have been very good for the quarter"

I.e are you saying it's going to be better than last quarter? I can assure you it's not. Additionally it's behind the run rate of 660ktpa so they need to make it up in next 3 qtrs (which is possible btw). So all in all its not going to be a good one. Can you explain where it will beat forecasts or views posted on HC? Just a cursory note that if they get $2600 for the grade they produce, that will be a very bad outcome given they achieved ~$3300 in prior q. Whilst it is obvious that these prices generate healthy margins is not relevant to valuations as these are predicated on much higher prices. Hence, we have seen downgrades across the board. Its now a matter of how bad the price falls are and whether PLS thinks it will continue in ST. This will trigger another downgrade if it plays out.