Cash BalanceThe cash balance declined by $91 million in the quarter, driven by working capital increases, capital spend on equipment and railcars, the dividend payment, and ongoing spending on the DRPF project.
Cost EstimatesNear-term cost estimates have been increased, negatively impacting FY25/26 EBITDA.
Realized PricingThe financial results were impacted by a lower average realized price, an artifact of volatile iron ore prices and pressure on Chinese steel mills.