Yes, debt is obviously a key issue, both in fact and in perceptions. The key test will be whether BCB can prove that it can sustainably ship 500kt of coal from Ellensfield South each quarter. If it can achieve that, and at current coal prices, BCB should generate enough cash to repay its debt and to re-rate the company. Not sure about a hoard of cash but if they can pass this test (500kt each quarter from ES) the future should be positive — and the leverage on the share price should be considerable.
Ann: Noosa Mining Conference Investor Presentation, page-82
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