Do others calculate all in cash cost per tonne and find it useful? Am I over simplifying things by coming up with a figure of $154? I used all costs for 2022 and kept depreciation (plant/machinery cost real money to replace) and divided by 16.4 million tonnes.
That 16.4 includes thermal coal (around 3.5 million tonnes?) that we make very little on. And we sell at around a 10-15% discount to the HCC premium price I thought?
The company graphs show the long term HCC price at $188.
If/when HCC price returns to something close to average will CRN be burning cash?
Things are great now but I wonder if (Curragh in particular) CRN might be selling a $1 mine in the next downturn like BMA and RIO did last time around?
Just wondering if I should factor in a bigger downside into valuing CRN.
Cheers
CRN Price at posting:
$1.90 Sentiment: Hold Disclosure: Held
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