all things being equal they should have close to $100m in the bank end of this 1/4. (extra boat this 1/4)
Coking coal spot price is about $375 USD well above the forecast ave price.
I note they have used 66 NZD for their forecast and it is meaningfully lower than that.
Might hold through till the next 1/4 result (should be the best on record including hedging)
Last year at this time they had a carry forward hedge book of 250kt ave $211 NZD
This year going forward they have 250kt hedged at ave $511 NZD.......awesome
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