Ann: Ceasing to be a substantial holder, page-74

Hmm. Looks like you have current data on PCI prices. This is good. The low price received for non PCI energy classified coal from BME was a fair bit had been waterlogged in the rain event and so was sub grade? Looks like Bluff will be very lucky to turn any profit this quarter so BME coal going through the new coal washer and loaded from the auto loader will be the net income source, till later in September when the big 2.7 mtpa Ellensfield pit - very much coking coal, is scheduled to deliver its first coal, which will from then on be filling the washer to capacity of 2.7mtpa. (If the creeks don't rise etc.) With the 170k ton stock (not sure whether this is waiting to be washed or sitting on the apron at port) at end of June, the washer may have run at capacity in July?
August may be a bit lower, and earlier next month, then Ellensfield and the production line is at capacity?

Oil prices are jumping related to possible disruption of Russian cargoes from Black Sea. Energy coal prices tend to be closely tied to oil prices at least in price trend it seems, so the prices for this output may rise again soon. Looks like Britain/NATO might have shot themselves in the foot re economy +, oil price, again, but the warmongers and the economics people are in different buildings so to speak.

At current prices the energy coal is not attracting a lot of royalty charges.