Your averages seem a bit optimistic compared to actual but here's to optimism! What we have seen over the past 2 weeks is poor. See my post a couple of days ago for estimates of rates. MMI were so informative with their release today but failed to give us any details or a courtesy update on production and shipping. Finnis needs to give us an update on the first half of the quarter but I feel he won't until there is a headline such as a miraculous one day loading rate or when the first ship is loaded within 4 days. If there are commissioning issues with the barges that are going to effect guidance MMI is bound by the ASX rules to release. If MMI realises that a commissioning issue, start up issue or any other matter is going to affect guidance they are bound by the ASX to release, not wait for the rosy headline. MMI told us in the last quarterly that the new barges were delivered to Skardon River in April. If for any reason they have only just been delivered (mid May), that is a something I would find disturbing and requiring an immediate and mandatory correction. Personally I believe the barges were delivered in April and have been undergoing a period of commissioning with a very wet end of wet season potentially slowing mining, handling and shipping rates. Not too much to worry about but an update would be of value to investors. We should expect to see loading rates improving from now and to the point of 4 day loading times. If not, that would be very disappointing.
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