12m mc, 3m cash, 400mt jorc!! 2bt target!!, page-14

For those who are wondering, here are the common paramaters used in depicting export grades.

Obviously you have to wash and beneficate the raw coal to get it up to these standards.

Grade A (Newcastle) coal has a calorific value of 27.5MJ/kg, and an ash content of no higher than 19.5%. This currently sells at $130/tonne. Most thermal coal companies would make profit margins at these prices over $60/tonne.

Grade B (Richards Bay) coal has a calorific value of 26MJ/kg and an ash content of no higher than 24%. This currently sells at $118/tonne. Most thermal coal companies would make profit margins at these prices over $45/tonne.

Grade C coal has a calorific value of 23.5MJ/kg and an ash content of no higher than 29%. I believe this is sold domestically moreso than in export, and most African based companies make margins of about $7/tonne.

Most importantly, we should be able to look forward to at least some export sales down the track if Mark's sentiments are anything to go by. Obviously a very long way to go before that, but it doesn't hurt to look ahead!