UI don't believe the move to higher grade Thermal coal will have...

U

I don't believe the move to higher grade Thermal coal will have much effect on BTU apart from the slight adjust to world coal prices this may cause. If it really happens at all.

BTU coal earmarked for shipping to ASIA will almost exclusively be Coking Coal. A product that has a long history of being prized for it blending characteristics among others. It attract a premium to QLD coking coal for these reasons.

In its premium quality form it can also be sole to ferro silicon producer for what I believe is around $400 per tonne.

In short the product from Denniston already attracts a premium. from specialised industry. And further all of the Thermal coal produce by BTU is used in the domestic market. Hence I dont see much upside in these Chinese whispers for BTU, but anything is possible

Viney