Hi Viney and others.Attended the meeting today and went on a...

Hi Viney and others.

Attended the meeting today and went on a brilliant tour of Stockton mine. That was an experience and a half. Some close up looks at excavators and trucks in operation at the coal face literally.

Firstly to the dividend question. Said would review at HY and review at FY. Keep it modest but keep it repeatable. I get the feeling there will not be a div at HY but will be one at FY.

As to the contingency payment. Just over half has been paid so far and if things and prices progress as they are now they will end up paying the full $50 by the end of the 4 years.

As for the rest, Richard Tacon gave a pretty good presentation which will be found on the website. (he was being videoed and the video was going during Q and A time but not sure if that will be on the website.)

Looking forward to 2025 they want to be mining 5Mt pa, (crown mountain etc) and expected EBITDA between $205 and $275m if coal prices remain in the $150 range.

Stockton currently costing a little bit more $107 to boat, but they are looking to cut this now that they have worked out how Stockton operates and have a good handle on it.

Richard was ok with the price of coal and did see it stabilising if not firming slightly.