projected cashflow and cash per share pe q , page-14

Hi Paulago,

Yes AGO management doesn't make it easy to work it out. In first quarter benchmark 62% Fe iron ore price averaged close to $150/dmt and AGO received $126/dmt for its standard fines, by using that relationship I estimate that when benchmark is now at $126/t, AGO should get ~$106/dmt. Note that in the quarterly for all production guidance AGO uses wmt(wet million tonnes), which includes moisture, but for all prices it uses dmt(dry million tonnes), which does not. Moisture can account for up to 10% of the weight of the iron ore, but I am not sure how much AGO receives per wmt, it can only be less though. Hope that helps.

I am not sure what 70% contracted for the year means, can someone else help?