RE: RE: RE: better prices for the manganese? EOM
In case anyone is interested I wrote to Dan Major. Here is his reply
Ecometals owns 100% of the manganese stored at the Port Santana.
In December legal ownership was resolved in in Brazilian High Court, and we had a buyer at that time at a price higher that the $3/mtu. However, do to negative influences in Macapa it took us 2 months to get an environmental license to export the material, since the Global and Chinese steel market has deteriorated, and the demand for low grade material is worse than for high grade, and unfortunately we have low grade material.
We have therefore struggled to place the material, but I believe we have now achieved it, but the price is going to be less that $2/mtu, and we can only sell 45,000t as a time as that is the boat constraint (Handymax) at the port.
By the way your revenue calc is incorrect - manganese is price on a metric tonne unit (mtu) and it should be;
57,935 x 37.54 x 2 = $2,174,882
Regards
Daniel Major