Using the quarterly cost numbers and assuming a 95%/5% split between fixed cost and variable cost as per Tricar's expert opinion, I get a break even and even a small margin at around 150k product tonnes per quarter (assuming 80:20, coking coal and thermal coal product split), which I estimate to be 170k ROM per quarter.
Which is consistent with the presentation MD gave at the AGM where he showed that they have achieved b/e at ROM of 12k-14k per week in November 2018 (see below).
So what do they need to do to get up to 200k product tonnes per quarter to make some real money? Is it just a question of getting reliable equipment and manpower?
