Kudos to CRN's Mgmt, page-4

Hi Robin, I’m new to Hotcopper too. I tend to agree with most of your comments on Coronado and the HCC price. I think you’re right about the capital raising being necessary but I question management’s motives and foresight doing large capital returns and dividends payments in the past. I don’t have numbers at hand but I think it was 600m+, money that could/should’ve been kept to avoid diluting existing shareholders with a capital raising. From memory they accessed debt to continue the dividend payment (hate it when companies do this) at the same time as wanting to spend 100m+ to expand Curragh.
I‘d hope managers thinking long term would hold onto more money and would continue with the expansion to capitalise on cheaper construction costs during a downturn and have maximum output as prices improve.
All that said, it’s worked out well for me to average down my buy when it hit 59 cents. Thankfully an average price of 80 cents now.