That was my thinking, but AR did say $2m and the grade would be...

That was my thinking, but AR did say $2m and the grade would be 57% so a discount to the $170 for 62% fines price.
FEX last quarter had 5 shipments 60,000 tonne carriers averaged just over 56,000 per shipment, so I guess we will not get 40,000 tonnes onboard .
They averaged over $7m profit per shipment at a average price of $185 US per tonne, but their fines average 61.5 % and 64.3 % for lump and the mix was around 50/50.
I would be very happy if we averaged $150 US, but I think it will be lower and with smaller ships and further from China than Gero, shipping costs will be higher, but that would be more than outweighed by far less distance to port than FEX.

Cheers BK14