gustie, page-7

There's nothing wrong with the coal they're mining.

It's just that Vlak is domestic so margins are always going to be low, and Ferr is approaching the very end of its life so by definition, it's near economic break-even.

It seems to me the profits are disappearing in the complicated corporate structure and the costs/debts associated with it. They were making gross profits earlier in the year that were not insignificant, but nothing in the way of net profits to speak of.

And once the RB coal price dropped they swung back into net loss territory.