CKA got $478K USD for 50% of the 10K ton shipment which is $95.60 USD/ton or $123 AUD/ton.
( see above half yearly report & Dec Qtr Financials)
There is no logical reason why CKA should not continue selling this coal locally while marketing
gets its act together and achieves an off-take agreement at a premium price of say $130/ton USD/FOB.
At $95.60 USD a ton & 8000 K ton/mo production, this should yield $765K USD/Mo ($985K AUD) which should be close to cashflow neutral & stop cash burn.
CKA has to demonstrate to potential off-takers that it can mine and shift coal down the river in order to get a decent deal, IMO.
CKA Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
