Ann: Daily share buy-back notice - Appendix 3E, page-15

I am not making excuses for them as quite frankly I am just another mushroom in the tray.

but the value metrics of mining at Stockton and getting the coal to Genesis just might not be there. I would think the approx $90 cost per tonne to port that we work on to Littleton is probably over what genesis want to pay for the tonne delivered.

I realise that if you are producing an excess of thermal then you may be able to justify selling it at thermal spot but if there is coal at Stockton that resembles thermal and it can be blended into a $200 per tonne product without too much left lying around then that'd be the way to go