General Discussion, page-42

BCB is not in default as long as they can meet their payment obligations.

Scheduled debt repayments:

• Taurus: A$13 million in September 2024 (funded by proceeds from a 10% sale of BME) and A$9 million in December 2024
• New Hope: None
• Crocodile: None

_{Source: Noosa Presentation July 2024}

While cash may be tight and met coal prices are low, several factors provide some relief:

• Reported cash costs were negatively impacted by the buildup of ROM inventory.
• There is plenty of saleable stock on hand, which is essentially a cash-like asset.
• The A$45 million facility from New Hope was used to fund a rehab cash deposit (thanks to QLD regulations).
• A deferral of state royalty payments is possible.
• There is a good chance met coal prices will recover, considering the end of the monsoon season in India and recent supply issues, such as underground fires at Allegheny and Anglo, and fatalities at QCoal. Thermal is holding up pretty well.
• Anyone looking to take over through insolvency or a highly dilutive capital raise - good luck. It's far too complicated and risky.

BCB just needs to hold on until coal prices recover.

It's clear that all-in production costs are still excessively high, and this will only be resolved with a new chairman. NJ's approach to addressing operational inefficiencies has always been to go for yet another capital raise. This is not a smart and viable strategy.

As many have pointed out before, the board's handling of the S249D was downright disrespectful - reason enough for a red card. Today, the share price has dropped to a shameful 1 cent, while NJ is likely going around telling everyone that the company is on the right track and everything would collapse if he were to leave.

At 1c, BCB's shares are dirt cheap... but only if Rob wins. Please support him with your votes.