It will be interesting to see the Dec quarterly report to see where the costs are and also the magnetite sale price.
Total exports for the quarter were 35 ships for 2.1m tonnes. I missed the last shipping list on 31 Dec and Sea Pearl may have departed before 31 Dec but will wait for company release. This is the lowest number of ships out for the December Qtr. The highest was 43 ships in 2014 and lowest in 2016 with 38. 2013 had 30 but it was a ramp up year.
Projected total annual shipping at current rate is 7.96m tonnes, which is 6.64% lower than last year of 8.52m tonnes.
The lower the exports of magnetite the higher the per tonne cost.
Also what is happening with Co drilling results? There seems to be no sense of urgency.
