Hopefully the coal price stays over $85USD for a long time, at that level it's about $28 aud margin per tonne, I think June was contracted at that time as per the May announcement, at todays prices $140USD, a contract may fetch $90aud per tonne margin ($188 - $38 - $60 fob).
When the coal price was about $106USD they got a $50AUD margin contract 90.5USD. In today's exchange rate seems $61 margin or double that April margin.
Ann: Change in substantial holding - Noble Resources, page-34
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