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First quarter data, page-29

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moorookamick

7,501 Posts.

165

23/03/19

13:55

Post #: 37861942
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Originally posted by arsenic: ↑

It's actually simple. The material is moved by conveyor belts at the ship loader. At a point where it drops from one conveyor to another (usually to change direction at right angles) periodically say every hundred tonnes a cutter moves through the falling stream taking a representative slice or sample. Say 1Kg per 100 tonnes. When the ship is loaded the 200 kg of sample is sub-split and successively reduced to say 2kg. This itself is sub-split to say 100 g and half sent to IMA lab for analysis. the other half to an independent lab in Aust.
Offloading the ship the Chinese do the same. IMA and the Chinese buyer compare their samples and use a middle position for payment. if no the two independent labs results are drawn on as umpires.

Note the may be the difference in the stuff going on the ship and coming off the ship particularly if the ship was not cleaned properly and contained something like silica, iron ore or rust residue. That's how it's done IMHO.

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Thank you for that arsenic. I guess the first few shipments will be "sweetheart deals" as a thank you for the off take contract so, IMO, so punters may have to wait until the June quarterly for confirmation of average price/ton FOB.

IMA Price at posting: 17.0¢ Sentiment: Hold Disclosure: Not Held
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(20min delay)
Last 8.9¢		Change 0.006(6.63%)		Mkt cap ! $76.30M

Open	High	Low	Value	Volume
8.7¢	8.9¢	8.7¢	$178	2.044K

Buyers (Bids)

No.	Vol.	Price($)
1	31000	8.4¢

Sellers (Offers)

Price($)	Vol.	No.
9.5¢	32075	1

View Market Depth

No.	Vol.	Price($)
3	131817	0.165
7	767073	0.160
2	680430	0.155
1	100000	0.150
1	20000	0.140

Price($)	Vol.	No.
0.170	167695	1
0.175	13000	1
0.180	485624	6
0.185	821517	6
0.190	963022	7

Last trade - 15.59pm 15/11/2024 (20 minute delay)

IMA (ASX) Chart