This article explains the setting of contract prices quite well.
https://www.reuters.com/business/energy/spot-australian-thermal-coal-has-surged-contract-price-is-key-russell-2022-06-28/
As a thermal coal producer, the current spot price is great.
Nippon et al are after coking coal, not our area but if TER are worried about cash in the bank and being a T/O target, i'd be happy to accept a 15c divvie next month ... that should lighten the coffers a bit.
Perdy
TER, page-316
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