Ann: Columboola JV Increases Resource to 1.297 Bi, page-11

re: Ann: Columboola JV Increases Resource to ... Hypermax,
You will find that the FOBT cash costs for majority of Australian longwall operations tend to fall within the $70 - $90 range. With long term thermal coal prices projected to stay in the $110 - $140/tonne level (as reported recently by Citi Coal), MTE’s cash margin should be around 25%-30% for Columboolla and above 30% for Bundi. Please note that the average cash margins for Coal and Allied, BHP, NHC, WHC and MCC are also in the 25% - 35% range. The product coal quality at Columboolla should be comparable to that of Cameby Downs and at Bundi area to Wandooan and Elimata deposits (i.e. with somewhat increased CV values and higher yield %).