I actually just looked at the cash flow some interesting...

I actually just looked at the cash flow some interesting facts

The revenue of 5.47m works out to only about $75 per tonne it seems cheap maybe to get in the door. Seems like SHD got screwed unless they managed to produce this iron ore cheap ore if I have compared it to different grades.

They have 2 x more sample shipments booked returning a total of 11.94m. They still have 1.5m in the bank so they should be able to easily cover projected expenditure of 12m

Also their loan facility is 5m but they are only using 1. Which gives them some funds if needed.

I'm assuming this 12m is being spent to develop production? They can use funds from sample shipments to allow spending on infrastructure to develop production to the next phase.

Looking at this over the next 3 months as long as they load all 3 shipments they should still have a million left on the bank and only owe 1.2million

Sorry if I have got this wrong but it does look like they stack up well and so close to stepping up production and price