That's incredible, and unsustainable.Those costs should come...

That's incredible, and unsustainable.

Those costs should come down as Qld's coal industry continues to deflate, and the higher cost mines will have to close regardless.

The point is not so much where COK is on an absolute scale, but where they sit in the cost rankings relative to the others. As long as they are in the lowest quartile (which they appear to be) they will be well situated to ride out any bumps until the producers higher up the cost curve are forced to close and the prices return to more manageable levels.

If management can pull off a coup and get this funding sorted out, COK will suddenly look extremely undervalued.