MGX made $10 M in DEC 17. Selling 900k tonnes.
All in cash cost $47 and price sold $60 tonne.
AGO sells 2.5 to 3 M tonnes the profit should be $30M? C1 cash cost sept was $52 realised price $55 ( using MGX $60).
2.5 x8 = $20M to 24M.
Before any hedging benefits.
Quarterly, page-61
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