My understanding is that Bengalla is planned to increase output from about 10m tonnes to about 13m tonnes (80% belongs to NHC) and for New Acland to deliver close to 5m tonnes per annum by the end of 2025. They also own a 15% stake in Malabar Resources which owns the Maxwell mine that intends to produce about 6m tonnes of metallurgical coal by 2025. So, 80% of Bengalla will provide NHC with a tick over 10m tonnes per annum plus, say, 4.5 million tonnes from New Acland plus 15% of the Maxwell mine which is close to 1m tonnes. I think 14m tonnes may be a little conservative. It's all about judging the costs of mining production and the achievable sales price across the next five - ten years.,
NHC Price at posting:
$6.04 Sentiment: Hold Disclosure: Held
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