2 very valuable vessels got pushed out into Jan. Adjusted for this, the numbers look much better (CF, cash cost). Note the high realized HCC price.
Things will get better: Ellensfield is high quality and low cost, Bluff in C&M, tighter cost control... and prices are strong.
The last CR was underwritten by deep pockets and very experienced players. I'd rather side with them than bet against them.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-16
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