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DevilDolphin

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DevilDolphin

Re: None

Thursday, 11/17/2011 10:20:52 AM

Thursday, November 17, 2011 10:20:52 AM

Post# of 91121
Crude Iron Ore based on the Platt's Steel Index at landing on a 6 day average price, 3 days prior and 3 days after landing with a negotiated discount off Spot Pricing.

Well now we know the pricing we are using to determine the payment amount. I would estimate that when the ship lands it will be around Christmas and spot price will be back above 180 per ton. So 40-45k tons equals 7.2-8.1 million - the negotiated discount. And savings on shipping will give the company an 360-400 thousand.

Not Bad!!!

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