Rising Volume; Rising price, page-109

I agree u812.

Bathurst will own 65% of phoenix Coal.

Phoenix coal will produce :

700k tonnes ( thermal ) at $30 per tonne margin = 21,000,000.
1 mill tonnes ( coking export ) at $200 per tonne margin = 200,000,000.

The coking coal can ramp up to 1.8 million tonnes.

What a bonanza this is for Bathurst.

They will own 65% of a company that has only 15 million in debt and will make a profit of over 200 million a year on current prices.
Plus they can start to advance their other mines as they have rail and port and cash to expand.