Ann: BUN Mine Mongolia Production Update October 2015, page-4

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10 Posts.

17/10/15

17:07

Post #: 16197952
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Originally posted by YEATESY ↑

"BNU Operations has delivered the increased coal volumes at direct mining costs of US$1.85 per cubic metre of material in Q3 2015. This is estimated to place the operation within the bottom end of first quartile mining unit costs compared to global coal producers. The direct cash cost positive margin on the hard coking coal product is forecast to be between US$9/t and US$11/t for the last quarter of 2015. Strong operational performance has maintained forecast margins despite continued weakness in coking coal markets."

Why is it that they cant just be transparent and just tell us the operating cost per tonne. I mean who the hell reports cost per metre of material? That is useless unless they also tell us the yield per cubic metre.

Although it is positive to see that they are forecasting $9-$11/t operating margin. might go towards covering some of that interest on the debt...and the executives wages!

An update on sales volumes and contracts would be welcome as well.

Yeatesy.

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"The Company is continuing to explore a variety of medium to long term funding arrangements to meet payment obligations on 31 October 2015 and its debt obligations on 8 December 2015. RHB Securities Singapore Pte Limited has been appointed as an advisor on this debt restructuring. The Company will make the necessary announcements when there are further developments and sufficiently definite arrangements in place to enable disclosure."

2 weeks out from a major repayment obligation and no updates on financing.... Is now the time to get out?

GUF Price at posting: 2.6¢ Sentiment: Sell Disclosure: Held
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Ann: BUN Mine Mongolia Production Update October 2015, page-4

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