Takeover from Peabody, page-54

So furthermore to below.

Simple equation

Dividend payments during the quarter were $226m and notes repayments were $72m.
That's $298m outflow.

Let's see what the bank balance would've been at 31 Dec 22 if these payments were not made and let's assume there was no mining income or expenses.

Let's add that back to bank account as at 30 Sep.

Bank 30 Sep $698m
less outflow ($298m)
less Capex for qtr ($45m)

Rough bank account balance from simple equation above for Bank 31 Dec $355m but it was $334m as per CRN announcement

As far as I can see it's impossible for CRN to have even broken even in December quarter based on the above.

I am curious to see if I am around about with calculations for Dec quarter.

On a side note: Investors forget that Blackwater received nearly 140mm of rain in January (first quarter 2023 and 2 months to go).
Will be interesting to see what guidance they give for 2023. Will it less or more than 2022? I wonder how the market will react to guidance. Last couple of times, market reaction was quite mute.