Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-87

That was a very disappointing quarter and the bottom line is costs need to reduce and prices improve, its not a lot more complicated than that. It's extremely unlikely any combination of rising prices and falling costs would make up for a $500t discrepancy this quarter although there is potential to close it considerably.
The dilemma is increased production along with other improvements kicking in will reduce costs but your just producing more at a smaller loss unless prices rise and thats the thing we have no control over with the possible exception of trying the auction system or finding an offtake with floor price but that would come with strings attached.

They chose not to go into C&M and they would have been aware of the financial situation leading into that decision but as they said at the time the JV will be constantly monitoring that, so its still in a precarious situation balancing between, prices , costs, cash position , a requirement to maintain a strong balance sheet and C&M.

Its tough out there.

Cheers Wnisky