Two excellent posts, although we all know the prices going forward are far more complicated, and increasingly guess work.
It's very difficult with the exchange rates moving so much to see what the Aussie$ per tonne is going to be in the future.
Also Felix have sold coal forward at just over US$100 per tonne, about 480,000 tonnes.
Felix are also hedging about one third of the income at lower rates than at present.
Newcastle coal is falling fast in value for benchmark thermal exports. This could go down below 1st April 2008 rate of US$125 per tonne.
Also Felix coal varies in grade with Minerva thermal selling below benchmark.
technical notes, page-3
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