Basic Terracom Financial Model, page-27

Well said @nqspirit, haven't seen your name around this thread for a while. It is very important that TER can deliver some earnings figures out of BNU. There was a short term spike in the coal price due to the cyclone cutting rail, so I would have hoped we take full advantage of this.... BNU is vitally important for the development of BA - it will be a long tedious process of bringing BA back into production, and sustained cash flow from BNU will be required.... I am still waiting patiently for some real earnings figures from BNU.

Also I see the construction of the plant at BNU to be more important than BA anyway, our margins out of BNU will be vastly higher with our own plant - I would hate to know what cut the washplant is taking as part of the toll wash agreement... By memory the plant was going to be constructed with no upfront capital expense, with constructor taking %% of earnings - not a bad way to get things off the ground with prudent capital management.