hey DDzx, coal pricing is difficult, but I think for the small players still just defining a resource the fine level contaminant stuff is less important.
I think the key things are (what I use as price guide anyway)
the spec basis:
as you are get all the same location groups on the same spec basis. the world coal council give basic conversion equations here http://www.worldcoal.org/bin/pdf/original_pdf_file/coalconversionfacts2007(04_06_2009).pdf
export or domestic:
if it's export, use the Platts index specs from different locations for a comparative price http://www.platts.com/IM.Platts.Content/methodologyreferences/methodologyspecs/coalmethodology.pdf
if it's domestic, find a local domestic supplier, their coal spec and price they charge, for a comparative price
to get the price:
in one of Astons (AZT) first presentations they give a price guide on their thermal coal. They simply dividing their CV by the index CV (same spec basis) to get an implied adjustment from benchmark
so, assuming the contaminants aren't out of whack, it's just the companyCV/indexCV = implied company's coal price
not sure if you get the same level guide from coking coal using CSN/FSI, but that's what I use, until a I find a better reference price
Hope there's something there that helps. but I too would be interested in hearing a better way from someone with experience in coal pricing.
