Ann: Quarterly Activities Report , page-13

Your cost of overburden removal sounds about right for Bowen basin type basalt not EER's weak silty and sandy sediment overburden, no need for blasting - EER could remove this for about half the cost you are claiming.

You have also overshot the cost of rail by about 200%... waratah claim to cart coal at $0.009 per/tonne per/km - I would personally estimate standard gauge rail at 2c per/tonne per/km for third party access.

It's a good thing EER's coal shows a yield of over 80% for 5000kcal/kg which would bring the mining and preparation cost down also.

I can see EER mining Blackall at about $50p/t FOB, and that is at 780km to abbot point.

Pro rata to NEWC on energy content, EER's coal is about $75.00 p/t FOB.

Can’t possibly complain if they get a 20mtpa mine up at $20p/t profit margin.