Ann: Bounty shares coming out of escrow, page-25

Cook is a very difficult mine, but PLV HCC is sitting at circa US$220. Assuming a current sales figure of $170 FOB Oz (using MV64 pricing with a quality discount), and the FX differential @ 0.72, this should be clearing circa A$235 on mining costs of circa A$150. If the met market holds up, and they do deliver tonnage, and the mine doesnt have a catastrophic failure, this is cheap.

I think thats why Ernie is loading up. My suspicion is production is stabilizing and he can see it via his offtake.