Ko mineKo mine should be running at full capacity by now as stated in their press release. They expect 400T to be mined out of the Ko mine. I believe that most of this production if not all will be sold at spot market price or be contracted out for consideralby more than the legacy contracts PHC is saddled with. This added to the reworked contracts for coal quality(meaning less coal washing) should add up to the company being substantially in the black for the 2nd quarter 09 since march was already producing a positive ebitdar. Also with the costs of reworking/terminating sales contracts out of the way I would expect the profits will be much better in Q2. IMHO the .80 cent share price by the analysts following this company should be easily attained.
GLTA
Mud