Ann: Additional Information on the Purchase of BBM Permanent Port, page-91

yes well analysed and said JS
you are spot on in your comments

all is good

movements of +_1-5% in hard coking coal futures is to be expected when it overshoots averages

the reality is that we are in a secular long term phase of higher coal prices into the northern winter

moderation of coal prices will likely occur from March next year but anything above Aud $275pt is gold as we head into production
every 1mtpa of coal sale equates to $Aud 275m
2mtpa is $aud 550m pa
then add tbar

we know our cost of extraction per ton is low and can withstand lower hcc prices

its really all about getting the mines into production phases safely and working efficiently
the prices will sort themselves out
the low phosphorous high quality hcc is a bonus for cokal

onwards and upwards