Quarterly predictions, page-12

Post Mortem:
1) Average price received $US105.51/t($A137.08) less than my prediction of $US113($A147/t). The above realised price equates to $US110 for pellets & $US30 for chips.
2) Unit cash operating cost $A77/t more than my prediction of $A73/t. This equates to extra costs of $A2.7mil. Congrats to Mutt who exactly predicted this figure.
3) Actual cash $A168mil v prediction of $172mil and actual receivables of $A25mil v prediction of $A40mil - both a product of lower pellet sales.
4) Actual pellet production 674.45kt v prediction of 675kt - thanks for the applause.
5) Actual pellets sold 652.58kt v prediction 715kt. A couple of lessons to be learnt here, firstly they have the capacity of having 120kt per annum(30kt per quarter) of chips as a production by-product that they sell to BlueScope Steel in Port Kembla and so we should be allocating a shipment per quarter to chip sales of around 30kt. When you add back the chip sales for the quarter of 40kt and apply an allowance of 4% on other gross dwt pellet shipments you come up with the correct figure. Important to allow for these chip sales as they only get around $US30/t for them compared to $US110/t for pellets.
I will be treating the first shipment in this current quarter, Zhe Hai 1, 35056t that went to Port Kembla as a chip sale(no pellets).
6) Actual pellet stockpile 262.2kt v prediction of 200kt - difference due to lower pellet sales.