Ref. " Wonder where you got the $21? "
Excerpt from 4Q14 ER page 12
..... the iron ore quality premium ranged between US$1.30 and US$1.45/dmt per 1% of Fe content. Freight costs on the Tubarão/Qingdao route averaged US$18.78/wmt, 11% less than the 3Q14 average of US$21.06/wmt.
I used the 3Q14 number for the $21 per ton.
Few more numbers on the mining costs in 4Q14
Iron ore sold in 4Q = 7.4 M tons
Cost of Goods Sold (COGS) = R$ 734 M
COGS per ton = R$ 734 M / 7.4 M tons = R$ 99.19 per ton, at an average exchange rate of 2.5 R$/US$ in 4Q14 would be = US$ 39.67 per ton.
Add the seaborne cost of US$18.78/wmt
Total COGS per ton delivered to China port = US$ 58.46 per metric ton.
Lets run the same scenario for 1Q15 with the current exchange rate of 3.25 R$/US$ corresponding to a reduced seaborne cost of roughly US$16/wmt
COGS per ton for 1Q15 ~ US$ 30.52 per ton plus shipping cost of US$16/wmt
Total COGS per ton delivered to China port in 1Q15 ~ US$ 46.52 per metric ton.
At the current iro ore spot rate of ~ US$60 / wmt, the margins are still at ~ 29% EBDITA
From the above CSN can still make profit from mining iron ore even at $60 spot price at China port.
New certification report (03/11/2015) of the iron ore reserves at Casa de Pedra and Engenho mines is 3 Billion tons. 85% increase from the reserve report in 2007. I wonder who is figuring out what the assets are worth on Wall Street. The stock cannot get any cheaper than this. Roy Hill mine in Australia is coming into play; however, most of the Chinese producers will be out of business given the current iron ore spot prices. China may have to step in and by the oversupply to save their miners. SID is one of the lowest cost iron ore miners in the world, even at $21 / ton Dry Bulk shipping to China, SID can still turn a profit or close to turning a profit per ton. SID should survive the iron ore downturn.
Dated Feb 12, 2015
Shanghai Metals Markets (SMM)
Google search for
The "survival of the fittest" strategy, outlined by Rio Chief Executive Sam Walsh, is expected to see imports from Australia and Brazil take more than 80 percent of the Chinese market in 2015, from 64 percent four years earlier.
As Brazilian iron ore exports to China increase to 80% in 2015 SID should do well.
Thanks Dr. Daniel. We need a PR on this specially the EU
Read message # 149679 on the IV board posted by last night before you start babbling about what I post.
Under SEC filings from ARNA website, reads as following:
We are offering shares of our common stock. Our common stock is listed on The NASDAQ Global Select Market under the symbol “ARNA.” On January 16, 2015, the last reported sale price of our common stock on The NASDAQ Global Select Market was $5.41 per share.
Based on the internet tweets, some are suggesting $120M offering
$120M / $5.41 = ~ 22M shares or ~ 10% of Outstanding Shares. Total OS ~ 243M
Never seen this publication posted till today. Published in South Korea in December 2014. Thanks to letthetruthring for finding it. The publication is confirmed see messages 149073 and 149074 n the IV board.
Suggest reading message 148924 on the IV board entitled
ADP334 for dummies (including AF)
A lot of Charts that would clear the importance of ADP334 and compares it to the competition. From what I gather from this info is that ADP334 will be the treatment of choice.
Reason is that
1) APD334 is safer to the liver than other drugs with similar MOA
2) Lymphocyte reduction is very similar to other similar drugs BUT the main advantage of this drug is Rapid Lymphocyte Recovery which is one week compared to the competition which is months.
3) The heart rate is practically unchanged with APD334 compared to the available treatment Gilenya which varied between min 64 and max of 83 bpm in the early dosing stages.
Never claimed I was a good technician, I merely pointed an observation. I can also google search the words pennants and flags and read about them.
Pennants usually move half way where the price want to go (eom)
Margin Calls for the Short positions from last week are clearing after the market close today. They either have to cover the positions or put cash into the accounts.
Yeah, Stevie is worried about a lousy $4,500 and not the fact that Rule 201 for short sale restriction is still active tomorrow and the Market Maker who helped Stevie sell at the high of the day needed a damper on the stock because the share price could be running out of control tomorrow for the high side.
Class III recall is a none labeling event and Eisai stated the following:
Eisai Inc. and we have discovered that a small number of bottles of BELVIQ in a limited number of lots had a missing or incomplete label. Eisai will restock this inventory, and it does not anticipate any supply interruption at the retail level.
Thanks John, hope all is well with you too... ~ 65k shares at $4.72 overall cost basis.
parked just above $5.75 which a significant level, everyone is talking about this level, a trendline going back a year and a half, someone also said resistances are at 6.15, 6.4 and 6.6 ish, someone also said that Monday afternoon, when the margin calls for the short sellers become clear, only then the will know how many shorts covered yesterday and today.