News: NHC UPDATE 1-Australia's New Hope clears environmental hurdle at coal project, page-12

The NHC report shows that sales for the six months were about $616 Million of which $11 Million related to china.
seec. "Other segment information 2019 2018$000 $000Japan 262,937 188,200China 11,845 78,660Taiwan 164,662 85,654Chile 14,833 5,798Korea 58,105 19,093Vietnam 1,890 11,779India 10,231 7,218Other 52,076 66,809Australia 40,111 46,083 616,690 509,294(i) Segment revenue
I recommend that investors read carefully the Cash Flow statement. This shows the real position and the flow of cash .
The 2017 lawsuit by Perpetual against the Millner family in the Federal Court was about :"Inthis case a major institutional investor contends that a cross shareholdingbetween two large publicly listed Australian companiesis oppressive toshareholders primarily because by allegedly disenfranchising minorityshareholders the cross shareholding is saidto entrench the incumbent boardsand, as a result, the control of the “Millner family”, and depressesthe price of sharesin each company." The result was Perpetual could not prove "oppression" and lost both claim and costs.
I am not certain , but I think Perpetual has been selling down its holding. The last report in February 2019 showed that Perpetual sold about 8,000,000 shares over 8 days around 14 February 2019.
Finally, the latest NHC report shows that Bengalla will sell about 9 Million tons of coal in 2019/2020. NHC's share should be about 7.2 Million tons up from what it states in latest report of 2.4 million tons. If these figures are correct then Bengalla should deliver some AUD 800 Million in "shared revenue " to NHC.

Returning to the Millner Group of Companies , it was stated in Perpetual case : "the cross shareholding is a complex structure which makes it more difficultthan would otherwise be the case for market participantsto assess the truevalue of the companies because it creates a form of valuation circularity".