NAE is a coking coal company which differs to standard thermal coal. Coking coal, which is used for the production of steel has had one of the best runs in history and was commodity of the year for 2016. The market has been very volatile over the past year due to supply issues with the Queensland cyclone, train damage, and China production cuts.
From last time I checked the current coking coal price was sitting above the $160USD/ton value that was used in our feasibility study. This gave us a NPV of $400M+ USD, which is a very lucrative project if managment can eventually get towards production
Ann: Redmoor 2017 Phase 1 Drilling Update, page-25
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