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clock Created with Sketch. 09/07/24
19:12
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Originally posted by hightrax:
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Yeah, at the end of 2023 in the Half yearly they said Taurus facility was US$51 m and US $44 m drawn. There was a cyclonic rain event in January and the cyclone forced all bulkers out to sea for a week or three and add to that substantial reduction in haulage from holiday season rail availability. BCB built up a non hauled but washed stack of coal at the wash plant or loader amounting to three ship loads (25 rail shipments?),which put a great strain on working capital after the big royalty bite from the bloodsuckers in Brisbane. It looks like they had to draw the undrawn US $7 m. balance to get them through the lack of budgeted income in the quarter. The fact that this balance still stood at US $51 million until the share of Broadmeadow was sold, looks like they still have a big backlog of unshipped coal.
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But, if so, having a month's production ready to load could be a lifesaver in the event of any unexpected production problems at the mine. Insurance by default?
(20min delay)