Ann: Coal Resources and Reserves update, page-17

So there was the acquisition cost of B+L from New Hope which was $20m upfront, $7.5m in milestone payments and royalties up to $70m (4th August 2021). As the price of PLV (PLVHA00) has mostly been above US$190, they will have been paying NHC a royalty of A$3.30 per product tonne.

This is where it mentions the replacement value of $300m for infrastructure on B + L, but the orderly liquidation value would be much lower.

Then there is the New Hope debt facility (21st June 2022) of up to $70m that was to cover the rehabilitation bond required by the Queensland government under the financial provisioning scheme. This debt ranks second to the Taurus facility. The terms of the loan were updated 29th September 2023, the principal was reduced to A$48m.

The current estimated rehab cost (ERC) for B + L (New Lenton Coal) is $68m and Broadmeadow $12m. The ERC for Bluff is $10m. As BCB would be deemed higher risk according to their financial position, they need to pay the government the full rehab bond instead of a contribution to the scheme.