$30 is out of the window atm and may not come back in from the...

$30 is out of the window atm and may not come back in from the cold for a few years.

Current hard coking contracts are for $140/tonne. And forecasts for next 5 years are not any different. Steel is going to struggle for some years.

LT correlation between PCI and hard coking has seen PCI at 75-80% (There is no such trading market for PCI in order to set a benchmark price).

Therefore, lets take the higher price which converts to $112. Calcs from the SBFS are for COK to produce at $105 incl Royalties.

$7. And that is being friendly.

Still a profit where most are not.

Hence, why we we where we are.

Disclosure: (I work for BSL)