Earnings release
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BATHURST RESOURCES LIMITED Quarterly Report June 21 quarter Key highlights Supreme Court rules in favour of Bathurst regarding long - standing legal dispute over a USD $ 40m performance payment . Unaudited EBITDA¹ for FY21 confirmed at $ 59.9m , $ 4.4m higher than guidance . All segments exceeded earnings targets for the 30 June 2021 financial year . EBITDA guidance for FY22 confirmed at $ 65.2m . Consolidated cash at 30 June $ 20.2m . CEO'S COMMENTS The last few months have been momentous for Bathurst . We have seen changes in our board of directors for the first time in six years , welcoming Francois Tumahai as an independent non - executive director . We also wish Toko Kapea who resigned from the board all the best with his future endeavours , and look forward to Peter Westerhuis steering the board as our new non - executive Chairman . During this period , we have also seen the export coal price recover . The hard coking coal benchmark that our export pricing is set against , reached USD 200 per tonne in early July for the first time since June 2019 . The benefits of which will be seen in the coming months , as is reflected in our guidance figure for FY22 . The Canterbury mine closed its doors at the end of June . We still have people onsite as the rehabilitation plan is already underway , and we expect the mine to be fully rehabilitated by May 2022. Our gratitude goes out to our staff at the mine , with our sincere thanks for their loyalty and hard work over the last 8 years that it has been under Bathurst ownership . Last but not least , the resolution of the near five - year legal dispute with L & M Coal Holdings Ltd is a huge win for us . The litigation has been a significant distraction , and with this now closed out once and for all , we can look to the future and fully focus on creating value - accretive initiatives for shareholders . 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