That the thing. This business is totally leveraged and this kick in the guts by the QLD Gov really hurts the models. Add the other risks like Labor shortages, political AGW risks ,inflation and interest rate rises plus the inevitable drop in coal prices per tonne and you see why it’s at 1.70. As I said previously I believe it fully priced if you take into account all these. Damn Greens and Governments are trying to kill the coal industry and even if they succeed it won’t make a damn difference to global temperatures. Time we had massive blackouts in this country to show the common folk what that means.
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