Ann: Results of AGM, page-8

Let us assume that the outgoings for the Sept Qtr are going to be similar to those of the June Qtr;
that is $6 mil which would bring the outgoings for the combined quarters to the 30th Sept at $12 mil.

Suppose tig sells 480K ton coal to Sept 30th (lowest estimate) @ say $100/ton (lowest estimate)
the we have:
Revenue:....... $48 mil
Outgoings..... $12 mil
Net: ..............$36 mil*

This should be enough to demonstrate that the operation is a goer for say $100 mil loan to install
the wash plant & upgrade infrastructure to deliver 2 mil t/p/a of quality coking coal.

If marketing pulls out a finger, then perhaps it will have a contingency plan to deliver another 60-120k
ton should the shipping window ,like last year , be open to mid November.

Also let's hope that the new CEO concentrates on mining a better coking coal to thremal coal mix which
would bring the average price/ton closer to $120. If the port is the bottleneck then it would seem reasonable to bung as much coking coal through there even if it means stockpiling some thermal coal
at the mine for shipping later when throughput lifts to 2 mil t/p/a?

*When is the current loan repayment due?