Karara 68 % plus grade, page-5

KML sent 30 shiploads of Hematite out during Sept 2017 quarter.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
1		2013​	2014​	2015​	2016​	2017​
2	Sept Qrtr	30​	35​	40​	31​	30​
3	Dec Qrtr	37​	43​	40​	38​
4	Mar Qrtr	38​	40​	36​	37​
5	June Qrtr	34​	42​	30​	37​
6	TOTAL	139​	160​	146​	143​

Note: first exports started in 1 Oct 2012 so have ignored the first 12 month ramp-up.

The total for Sept quarter is in line with last year, but less than 2014 and 2015.

Note: 2014 had quite an amount of DSO.

While it is difficult to predict, it appears Oct quarter may be up to 39 ships on current trend (so far 10 ships expected in 23 days), but anything could happen.

Price of Fe down to $US57.80 overnight or $AUD74.17. Hopefully KML high grade will not be as smashed as this.