Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-6

In regards to the revenue, a few things need to be taken in to account:
1. it is sale of oxidised product
2. 15kt PCI and only 8kt of coking with a large price difference between the two atm
3. the $2.05m usd paid is the 80% down payment, so the actual amount paid is more like $2.5m usd.
4. barges are no longer an issue and regular sales will increase along with production and coal type and quality.

Overall imo, it's a decent quarterly. Mgt is ticking boxing, albeit slower than some on here would like, but it's all getting done and on a shoe string budget. There certainly will be better days ahead.