Current state of the market coupled with flood disruption I see...

Current state of the market coupled with flood disruption I see very cloudy dark skies for months for COK.

I believe they will be challenged to reduce the KEB loan by $50 million by June. Can't see them realising any substantial cash from sale of any non-core assets nor do I believe they can make repayments to the KEB loan from existing cash reserves and cashflows.

Take note of p.96 of Annual Report.

Furthermore, lets say they get $110 p/t and produce 200,000 tonnes for the next quarter (absolutely unlikely). At a cash cost of $95 p/t that's a margin of $15 a tonne.

200,000 x $15 = $3 million. That's enough just for admin costs. What about development costs and interest costs etc.

Like I said, not looking good and that's putting it plain and simple.