Bobthebuilder3r, Further to discussion, I posted this on...

Bobthebuilder3r,

Further to discussion, I posted this on Stockhouse yesterday:

http://www.stockhouse.com/companies/bullboard?symbol=t.cia&postid=28380553

So far this quarter (July), due to the higher price for 66% Fe iron ore than last quarter, they are earning US$70/t FOB Sept-Iles. (It was US$64/t approx. for the last quarter)

Production per quarter is 1850000 tonnes (7.4mtpa divided x 4), so if the iron ore price holds at current level for Aug & Sep, then FOB Sept-Iles earnings could come in at up to US$129.5 million for the current quarter (US$70/t x 1850000t).

US$129.5 million is CAD$169 million

So even with the total estimated cash outflow for this quarter of CAD$134 million, their net cash flow may still come in at up to CAD$35 million (depending on the average 66% Fe iron ore price for the next 2 months).

What I am confused about in the quarterly report is the CAD$30 million difference between the value of the concentrate sold which was US$114,864,000 and equals approx. CAD$150 million & the amount shown at 1.1 in the quarterly (Receipts from customers) for the amount of CAD$120 million approx.

I am going to email the company tonight to ask about this - unless you or someone can explain this?

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