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BATHURST RESOURCES LIMITED Quarterly Report March 21 quarter Key items EBITDA¹ guidance maintained at $ 55.4m . The domestic business ( incl . corporate overheads ) contributed $ 10.7m EBITDA in Q3 ( $ 31.4m YTD ) , ahead of forecast . The export segment contributed $ 10.0m in EBITDA in Q3 ( $ 16.1m YTD ) , reflecting an increase in pricing and volumes from previous quarters . Gains from increased volumes and realised FX hedging have also meant earnings came in favourable to forecast . • Share consolidation on a 10 : 1 basis announced . Consolidated cash at 31 March $ 11.8m . CEO'S COMMENTS Directors are pleased to confirm the EBITDA guidance has been maintained . Whilst we did see an uplift in export pricing in Q3 , it did not reach expected levels as China has maintained its ban on coal imports from Australia . However , management are comfortable that the upside from Q3 plus additional sales volumes now contracted in Q4 will offset the expected lower than forecast pricing on export sales . Our domestic business continues to run smoothly and is also expected to achieve earnings projections , noting some maintenance spend has been deferred to Q4 . The announcement of the closure of our Canterbury mine at the end of February was an outcome management fought hard to avoid . The wind - down process of the mine is progressing well , with the operations well placed to meet remaining sales commitments . Closure plans are being finalised as we move to commencing rehabilitation in the second half of the year . The 10 : 1 share consolidation announced early in April and in effect from mid - April , is something that has been under consideration for some time . Post the consolidation , our shares on issue went from 1.7 billion to 170 million . The outstanding judgment from the Supreme Court in part continues to have an impact on our share price , as well as the general coal export market environment . However , the increase in the share price from the consolidation is expected to make our shares more appealing to a wider range of investors . Our cash balance reduced during the quarter , primarily from timing of receipts from export sales that increased receivables at the end of the quarter . These funds were received in April . 1 Earnings before net finance costs ( including interest ) , tax , depreciation , amortisation , impairment , non - cash fair value movements on deferred consideration and rehabilitation provisions . Page 1