Zin,I've done a quick calc with the help of some info from mates...

Zin,
I've done a quick calc with the help of some info from mates in the industry. The main difficulty is strip ratio. Their website says up to 10m cumulative coal thickness with coal seams at depths above 30m. I'll take a punt and say average SR is 5:1 which is very good! So assuming that, here goes:
Cost of O/B @ $4.50 * 5 = $22.50
Cost of coal mining t = $5.00
Cost of washing (clean coal 70% yld)= $5.50
Cost of rail @ 6c/t for 500km = $30.00*
Cost of port per t = $8.00*
Cost of services, rehab etc = $5.00
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Cost Freight on Board = $75.00

* these numbers are expectations and guesses from inside industry and based on new contracts in the Bowen. Could expect a bit better on rail I think as Galilee is a heavt standard guage?

Anyway, you have $75 without state royalty (7% of sale price), carbon tax, cost of capital to build (a big one). MRRT won't apply as in my opinion there won't be any profit because as I have calculated (rightly or wrongly)and posted previous that the coal quality will only achieve about 65% of Newcastle Benchmark which today sits at $100 => $65

At this stage I don't think its worth worrying about seaborne freight costs unless of course you think 50% out in my calcs.

I am happy for EER to prove me wrong. All hinges on quality and maybe $10 reduction in rail to get even.

Hope this helps. Its my opinion only. DYOR!