Cash from 1st coal sales, page-9

Hi dzjong - In November 2012 the Chairman advised that due diligence had been based on a coal price of $130(US) per ton with production costs of $55(US) per ton. This would produce earnings of $12.5M per year to AVX.If we now use a coking coal price of $100(US) per ton and assume that production costs have not increased we should still receive earnings of around $7.5M per year. With the Phaselll trial to cost approx $30M it will take a while to complete the trial. Would be good to get an update from the Company - hopefully with the quarterly cash flow.
Cheers