ML is on a mission to become the new King of Coal, buying other mines and railroads as well. Sad to see him sell down a bit to finance his other projects.
Shouldn't shake our confidence, though. Ramp-up is making good progress and prices are strong. The CHPP is getting ready just in time. Sit back and enjoy the ride. This is at least a 5x from here on.
No downside risk, as we could always sell to our neighbors - but why would we, given the massive undervaluation?
Ann: Change in substantial holding, page-10
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