IPL's reference to its use of the Ammonia Index is contained in...

IPL's reference to its use of the Ammonia Index is contained in the notes at the foot of the announcement of 25th Feb:


1 This period is from the date of the incident on 17 February 2022 (US time) to the estimated restart date.
2 Based on current index ammonia price of US$1,135/mt, March Nymex contract gas price of US$4.57/MMBTU and nameplate production rates.
3 Based on a AUD:USD exchange rate of 0.72.
4 Based on a tax rate of 26%.


But not in its notes at the foot of the 19th April announcement:

1 Based on a AUD:USD exchange rate of 0.74.
2 Based on a tax rate of 26%

So we have to wonder why they are hiding this information....very likely, IPL does not want to disclose the true extent of the loss caused by the downtime - as I've indicated, the loss reported should have been at least 25% higher.

If they had disclosed the loss based on the current massive profits from ammonia production - because of highest-ever ammonia prices - then we would be able to very simply extrapolate that information to deduce the likely profits from Waggaman in the following 12 months. We could assume continuing very high prices and (hopefully) production at rated capacity that was nominated at time of construction many years ago as 800,000 tpa. IPL's profits should be many times the last few years and if they can get their problems resolved, results should be spectacular.