So just BBM at current coal prices, (try Hairy's...

So just BBM at current coal prices, (try Hairy's spreadsheet)
Forgetting coking and PCI differences and prices and just averaging out sale price.
Say USD 175/tonne. (much more coking than PCI)
Cokal estimate for FOB Ship cost == USD 55.
Bull dung says I but USD 65 should do it.
Margin USD 110
2 Mt/year === USD 220 million. x 60% === USD 132 million for Cokal each year. about AUD 200 million
3 Mt/year === USD 330 million. x 60% === USD 198 million for Cokal each year. about AUD 300 million.
Don't forget the 40% owe us about USD 40 million.

So 2 Mt/year Cokal Margin 25 cents per share.
Profit? No idea.