…ease meaningfully from here [*], if the prices of coal stocks don’t get their boogie shoes on soon, we’ll be seeing the inconceivable of negative Enterpise Values for coal equities in 18 to 24 months’ time.
[*] And why would they ease meaningfully, given coal supply from Indonesia and Russia - which together represent more than half of global seaborne thermal coal trade - is being prevented from coming to market (for different, but very real, reasons)?
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Even if coal prices…
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