DFS opex costs was $89/t for first 5 years This was based on a...

DFS opex costs was $89/t for first 5 years

This was based on a much higher AUD, oil was $100+/barrel and services and parts now would come for c in the $ given complete lack of investment in recent years - providers will be hungry for work

So that needs a drastic haircut for start. I'm saying 10-15% to be conservative, but it's likely much more

So Cokal don't need $200/t to be profitable. The concensus is most majors will receive US$120/t+ throughout the year. Then again, the concencus was coal was dead and never going above $100/t again ...

There is potentially a perfect storm brewing for coking coal with QLD supply issues, China cutting working days, El Niño and QLD storm season coming up etc

Remember this happened once before and sent the price to $330/t. The entire time, commentary was it wasn't sustainable and would be short lived - it kept hammering though !

Regardless, anyone bidding 10c or around $60M for CKA is going to make good coin receiving US$120/t+ (Minimum concensus price for rest of year)