Ann: Market Update, page-2

While this is a comprehensive report on other matters, in 2021 NHC released its Quarterly Report on 31 July 2021 so this year it's going to be somewhat later. Should be a seminal day for the company.

Termination of the debt facility is excellent news and speaks to how NHC is generating bucketloads of cash.

The investment in met coal near Muswellbrook is a surprise, but no doubt NHC has done its sums in its usual conservative manner prior to acquiring the 15 per cent interest.

Interesting that Bengalla mine has secured more sales into the domestic coal market, thermally speaking. There were landslides (now resolved) along the Blue Mountains rail line at Mt Victoria among other locations, so this disrupted supply for NSW Central Coast power stations from competitors' mines such as Airly north of Lithgow.

The planned increase in Bengalla mine's production is excellent news.

Overall a positive report despite mention of rainfall-related 'disruption' at Bengalla mine that's only 'partially offset' by increased thermal coal prices. While YAL is a different beast, it had to lower production forecasts for FY 23 so NHC is not alone with this sort of difficulty.