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BATHURST RESOURCES LIMITED Quarterly Report September 21 quarter Key highlights Export pricing benchmark doubles over the quarter . EBITDA¹ guidance increased to $ 95.3m . LTIFR and TRIFR on downwards trend as Field Leadership programme continues to show results . Consolidated cash maintained at $ 19.9m . CEO'S COMMENTS A key headline in global resource news has been the significant increase in the price of seaborne traded coking coal . We began to see a recovery in the hard coking coal ( " HCC " ) benchmark that our export coal sales are priced against in June , when pricing reached a daily spot price high of USD $ 194 per tonne . Since then we have seen this upwards trend continue , with recent spot benchmark pricing sitting at or close to USD $ 400 per tonne . The higher spot price will ultimately be reflected in the quarterly benchmark price next quarter . This rise has exceeded market consensus in the short - term , and whilst pricing is expected to lower from current levels , the outlook has significantly improved since we released our EBITDA guidance at the end of July . This led to updated EBITDA guidance being released in September , with EBITDA increasing from $ 65.2m to $ 95.3m . These pricing levels have also put renewed emphasis on our organic growth projects in New Zealand . From a people perspective , we received the results from an engagement survey during the quarter . We are now developing a significant workstream for rollout in the coming months that will address areas of focus highlighted in the survey responses . Part of this will be a programme to embed our recently formed company values – Be Safe , Be a Team , Be Real , Be Accountable - within the organisation . Lastly , our emergency response framework was tested when the town of Westport where most of our Stockton mine employees live experienced a major flooding incident . This led to nearly half of the town's 4,500 residents evacuating their homes . Our people were a significant part of the emergency response , with specific mention made by the New Zealand Fire and Emergency response team that noted their hard work , dedication , professionalism and expertise . We are extremely proud of their efforts and their positive representation of Bathurst in what is a very important community to us . 1 EBITDA is a non - GAAP reporting measure and reflects earnings before net finance costs ( including interest ) , tax , depreciation , amortisation , impairment , non - cash fair value movements on deferred consideration and rehabilitation provisions . Page 1