mihal,Do we know how much the hedging deal cost CCC?The hedging...

mihal,

Do we know how much the hedging deal cost CCC?

The hedging price was excellent, nobody can deny that, especially given they locked it in just before the plunge started.

Unfortunately Pen is not ready to export coal and take advantage of these terms during the depressed RB prices so Conti's only export comes from Ferr which is not hedged and which IIRC has a similar open-cut production cost (being as it is approaching the end of its mine life) to Pen's underground cost?

So with the current RB price, Ferr's margins will have been decimated. The mine itself may still be marginally profitable but as we know, CCC has extra costs.

The quarterly will make interesting reading.