new low, page-30

There seems to even a bigger problem with shipping from Geraldton.

Up to the 27 February they had shipped 24 ships for the quarter which is a potential 36 ships for the quarter -  2.16m tonnes - more that 8.4 tonnes for the year. We are currently running around 2.6 days per ship. 

But something has suddenly happened - in the next 2 weeks it appears that only 2 ships will depart. There are only 2 lined up.

They might get some more ships in the mean time, but this is unusual.

And Mt Gibson Mines has closed down its mine in the Midwest - there is now more capacity of some 4m tonnes a year at Geraldton - don't know who is going to take it up.

I will keep you posted if there is an improvement.

KML ore prices in the order of $AUD144 at present.