looks terrible, page-12

I think the three bad reasons about the company:
1) They have started producing coal but that much at the moment
2) Commodities prices are going to remain weak into next year. Iron ore price will probably fall by 25% and coal spot price has already fallen off the cliff
3) The need approx $4 billion for the iron ore project. That is a huge outlay of money and they don't have a strong partner to help them with the funding. Correct me if I'm wrong but from what I gather they don't 100% own the West Pilbarra iron ore project right?

As you can see already, in this climate, people won't tolerate companies that will or already has a huge debt. Look at RIO and OZL.