That's a bit hard on the calculator. From my observations it has...

That's a bit hard on the calculator. From my observations it has helped you make some very good predictions re our numbers. The latest being cash on hand at 30 June. Very good given the "substantial" upfront payments for P680 that were made.
As for the disconnect between the burgeoning cash pile and the share price well it certainly is becoming more ridiculous by the month.
Another $A300m. about to load on the Pacific Princess and another BMX auction any day.
As you say even if we only average $US4000t for the ye 300623 we make squillions.

And that isn't going to happen.

Offtakes for this quarter will better $US5000t. (2/3 of our production) and the BMX will better US6000t. (1/3)
So to average only $US4000 over the course of the year the average price received would have to drop significantly below US4000t for the following three quarters.
Which brings me back to a professionally managed flexible share buy back as FMG initiated some years back. In my opinion it put a brake on the shenanigans going on with their share price at the time. And the company must have been satisfied with the result because it was persevered with.
C'mon give the old calculator another chance.