TerraCom Ltd, an emerging resources company with a large portfolio of operating assets in Australia and South Africa, has provided the operational results for November 2021.
Coal sales for the month remain strong across both the Australian and South African business units.
Despite the recent reduction in thermal coal markets, forecast revenue for the December 2021 quarter is still strong at AUS$210/t. Should the forecast revenue be achieved, this will result in a forecast operating cash margin of approximately AUS$122/t based on coal sales of 575 000 t, and will deliver an operating EBITDA of AUS$70 million for the December 2021 quarter.
Export coal sales for the South African operations increased by 21 000 t, or 17%, although total coal sales were below the results achieved in October 2021. The improvement in export tonnes was the result of the short-term road haulage option being implemented. Whilst coal export sales continue to improve, ongoing logistics constraints due to Transnet still hamper the planned export expansion strategy.
Year-to-date contracted domestic offtake quantities have been delivered to Eskom from all three South Africa operating mines.
Year-to-date operational results
Year-to-date managed coal sales represent an annualised 9.4 million t.
Read the article online at: https://www.worldcoal.com/coal/10122021/terracom-provides-november-2021-coal-sales-update/