Can't believe some people don't want to wait the water licence...

Can't believe some people don't want to wait the water licence approval and sell at 8c. This one will be a dark horse in next few months.

If FOB cash cost is around $55, FOB coal price is $90, margin is around $35. IKW got high quality with around 6800-6900kcal/kg. 2Mt/year ROM with 63% yield brings 1.25Mt/year salable coal.

Profit before tax: $35x1.25Mt=$43.75 million. IKW owns 70%, because it pays all cost so it will get all until claim back all the cost.

Even 70%, 43.75mil x 0.7=$30.6mil

At 8c, market cap for IKW is 27 million.


If coal price is $100, margin is $45.
Profit before tax: $45x1.25M=$56.25M
70%: $56.25M x 0.7=$39.38M.