AGO
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0.00% 4.5¢ atlas iron limited

MGX are saying they sold 0.84wmt - 0.48wmt of lump, 0.3wmt of...

  1. Cashmeoutside
    3,047 Posts.
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    17/01/18
    11:33
    Post #: 30368597
    MGX are saying they sold 0.84wmt - 0.48wmt of lump, 0.3wmt of fines and 0.06wmt of low grade lump.

    They say they got US$21/dmt for fines which is about A$25/wmt using 78c AUD and 6% moisture content. This equates to $8m revenue for fines.

    They also quote A$48m FOB revenue for the quarter - which means the lump and low grade lump must have achieved revenue of A$40m.. which is A$74/wmt.

    Something doesn’t quite stack up.. with lump getting 3X the fines price...

    I’m expecting atlas to get A$46/wmt for their fines.. based off the benchmark and relevant discount..
    AGO Price at posting: 3.4¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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