It has been a difficult quarter with clearing of wall collapse rubbish making it a challenging time. If $80 a tonne comes, just like any business, many IO producers won't be producing by that time, supply will balance out, Chinese mines will probably be producing little if anything with their cost structure @ 80. Better grades this quarter should leverage us quite well even if IO prices go down somewhat. IMO
sp = cash position minus ~20%, page-6
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