There is some positive news though, KML seems to be getting their act together on exports - this week they have had a 23 hour turnaround on a ship with loading time of 22 hours. The lowest in 870 shiploads since starting exports in Oct 2012. KML might (and I stress might) export 8.2m tonnes this year.
KML costs from Dec 2016 to June 2018 were $AUD150m per quarter irrespective of export quantities, however Sept and Dec qrtr costs jumped to $AUD166m and $AUD178m.
I think this extra money was spent on maintenance or plant/equipment upgrades, but as we are mushrooms and kept in the dark this may be a guess. Will wait for March qrtr report to see.
GBG Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held