Looks like they made about $100mil from operations for the quarter after accounting for interest costs.
If coal markets,specifically met doesnt improve, they will be losing money next quarter, especially given that inventory build. QLD royalty system going to severly hinder their growth optionality.
They also make this comment:
Net cash improved yes, but they got a $136mil payment from Peabody. So in fact they have lost about $73mil over the last month and a half? Correct me if im wrong on this.
I don't see a pretty picture here to be honest, but I really like the asset class and the company. Likely more weakness over the short to medium term.
Ann: March 2024 Quarterly Activities Report, page-3
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