I have had a bit of a look at what may be a cash position after...

I have had a bit of a look at what may be a cash position after the next Q with a surging Coal Price.

At the close of last Q we had 214K cash with 5.2 million debt. We sold 6.7 million dollars worth of coal this Q already as announced in the fine print in the quarterly. Repay the debt and we have 1.7mill cash currently. They milled 138 million tonnes but sold nothing except the amount I just mentioned so I suspect if we sold say 50 000 tonnes which would leave about 80 plus tonnes to sell, which is possibly 10mill dollars or 7mill of ours @$125. That takes us to 8.7 mill in cash usd. 11.8mill aussie

The new Q then sees hopefully full production of what they hope is 75k tonnes per month. Being conservative at 60k tonnes at current rates would give us 180 tonnes @ 125 usd which is about 15.75mill for our 70% share before costs. Thats 21.5 mill AUD. Costs you would expect to be around 7-8 million

Grad total of 25mill cash aud by quarters end which is very likely. At 56c share price we have a market cap of 22mill which 53.4c per share in cash. I reckon 56c is cheap - No value attributed to the companies project at all.

I appreciate this is simplistic but if the coal price holds we could have significant cash for a new project or even a nice dividend.