Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-3

Bowen Coking Coal’s latest quarterly report highlights solid operational progress, with record coal sales of 544Kt and a significant 39% reduction in FOB cash costs to A$117/t. The company's liquidity position has strengthened, with cash reserves of A$54.4M, supported by recent debt restructuring. While declining coking coal prices (down 7% QoQ) pose a challenge, ongoing cost reductions and steady production from Ellensfield South and Plumtree North position BCB well for the medium term. Key to watch will be coal price recovery and how effectively the company manages debt obligations as repayments begin in 2025. The development of Plumtree North by mid-year could further improve outlook if market conditions remain favourable. What’s everyone's take on their ability to handle the debt load moving forward?