Ann: Production Update and Increased Sales, page-3

The MC is very low at 1.3mil

Production Update
The November production run was successfully completed yesterday. This ferrotungsten production campaign was completed at a profit, in line with budget and planning schedule.
This production has been sold pursuant to long term contracts (LTCs) with blue-chip Japanese customers (refer Hazelwood ASX announcement “Japanese Sales Success”, 7 September 2015).
The November production run was the third month of sales under the LTCs, following successful production campaigns and export of ferrotungsten from Haiphong in September and October 2015.
Production at ATC will continue in December 2015 to fulfil LTC product volumes and increased customer demand.
Increased Sales
The LTCs include customer options to secure larger quantities of ferrotungsten from ATC.
Hazelwood is pleased to advise that certain customers have exercised options to increase sales volumes under the LTCs, which will result in a 30% increase in January LTC sales.
In addition to increased contracted volumes, ATC has received further spot market orders from Japanese customers.