Ann: Quarterly Activities Report, page-3

One has to really like how 85 per cent of forthcoming production is already sold.

A good outlook from a very well run company.

Fantastic that New Acland Stage 3 is progressing well, although the lunatic fringe may eventually lodge further appeals about the water licence. These Marxist environmental activists ought hang their heads in shame, as NHC's high quality thermal coal actually reduces worldwide emissions given that if Australian supplies were not available, coal-fired power station owners in other nations might well use a lower grade coal sourced from elsewhere.

The dry weather is not to everyone's liking, especially graingrowers in northwest NSW but it really helps NHC at Bengalla in the NSW Hunter Valley.

Malabar mine is low profile but seems to be coming along nicely. It gives some diversification into met coal.

That the NSW Labor government seems extremely likely to increase coal royalty rates by the end of CY 2023 or early in CY 2024 is far from good, and typical of Labor that loves to tax and spend.

It's a brave man or woman who forecasts thermal coal prices but with Russia/Ukraine far from resolved, probably quite a good outlook.

Mr Rob Millner knows how to stick to the knitting!