90% of their production is semi soft coking coal. Spot price is around US$250t. Cost of production as indicated in the half yearly should be under A$130t. (A$220t operating margin on spot price) Half yearly also stated they are ramping saleable production back up to 600kt per quarter.
So in that basis it would be a quarter operating profit of $130m odd.
However, the significant portion of their sales are sold under contract based on a lagging price index (prior quarter or two quarters average price) so they will not get the big uplift in the September quarter, but should be racking it in this quarter and first quarter 2022.
Ann: MILLENNIUM AND MAVIS DOWNS MINE UNDERGROUND CONTRACT AWARD, page-24
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