AM74,
I 100% know you are correct that management stated that they would not sell BBM coal as thermal coal so as to not to confuse the market. Must be selling to idiots.
So really, that management stance is in respect to selling PCI coal (commanding 15% premium price to Aussie PCI) as thermal to capitalize on the price inversion of thermal over Coking Coal. This is what the Aussie PCI and SSCC producers are doing. Their customers are not stupid.
They will probably stick to that stance despite losing money via this stance.(our money).
What I am alluding to is the initial coal mined close to the surface, refer to photos in presentations. This coal is above the LOX line which in Maruwai Basin is 2.5 to 5 metres. Central QLD is more like 10 to 20 metres.
So our initial coal is from the weathered zone and most likely suffered oxidation. It is from a coking coal seam but unlikely to be saleable as coking coal.
It is a huge bonus to have this shallow seam in a boom time for thermal. SJ180k
AM74,I 100% know you are correct that management stated that...
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