The Sounds of Accumulation, page-70

Yeah. Similar to FEX where the C1 cost is logistics heavy. The new logging road takes out a lot of the section of the river where low level risk existed previously. There is lots of barging of coal on that river so its just like trucking in Australia. So while the logistics is heavy, the deposit is amenable to DSO operations like IO resulting in minimal processing capital (basically screening) and thus cost + 100% recovery. I am waiting on the updated FS numbers but they will be pretty similar. The big difference on the NPV is the market distorted China Coal Ban price.This makes BBM a ball tearer in the early days generating huge cash flows prior to the main game TBAR.