From what I gather some sales are FOB & others are FIS. The...

From what I gather some sales are FOB & others are FIS. The positive cashflow for Dec was $10.219 mil; not bad for a company ramping-up.
As mining progresses deeper, there will be better quality coal with a better mix of coking coal to thermal as well as the honing of mining, trucking
& barging skills which should have a double effect: lower costs/ton & higher revenue/ton, IMO. Better coking coal to thermal coal ratio was reported in the Sept Quarterly.

The long term/big picture of course is: 630 mil/ton of coking coal reserve within 40 kms of a shipping port site with the potential of 10 mil/t/p/a
on maturity. That certainly will blow competitors out of the water with low mining (low strip ratios) .rail & shipping costs

Just crunch the forward fundamentals 7 years down the track and you get an inkling of what is to come :
10 mil ton x $50USD margin /1.8 mil shares x a modest P/E of say 10* and you get close on $4 AUD/share.
We're sitting on 4c/share now, so if the share price lifted equally over the next 7 years  we should see a lift in SP of 56c/share per year.
Was it Benjamin Graham ( Warren Buffett's mentor) who said:
"In the short term the stock market is a voting machine but in the longer term it's a weighing machine"?

* Tier 1 miners usually have 15-20 P/E and with a mine life of 60 years of premium coking coal, this surely is a tier 1 candidate.