China Coal Tarrifs to Drop, page-83

No doubt the market for WHC at $2.56 AUD is pricing in every pessimism imaginable but on the two you cited I would respond that
1) the fires and dust issues will subside, leaving minimal or zero consequence,
2) Maules Creek and Vickery are clean coal and it would be incredibly stupid to leave the world, including Beijing's mainland, India, and Asia in dirty coal scenarios rather than clean ones, the Adani result in Qld should also have spoken for how the LNP will eventually approve Maules Creek and Vickery.
3) the LNP would put WHC in an ideal situation if it stopped Adani, a finite resource legacy industry does very well, see tobacco, oil ahd lead to name but three.

Also, LNP might allow WHC to be sold or at least bid for by Alliance Resources, Arch and Shenhua which would cause SP for WHC to spike dramatically from where it is at present.