By the conclusion of the meeting or shortly thereafter at just after noon AEST, the SP had declined 5.36 per cent to A$4.505, down A$0.255.
This seems an overreaction. As usual, 'Mr Market' instantly punishes perceived bad news, but if there are dollops of a realistic, more positive future opined at an AGM, this grumpy old chap refuses to pay any attention.
I don't believe 'Mr Market' appreciates that gradually during the next few months, demand for thermal coal is likely to improve, and any oversupply issues perhaps not entirely disappear, but certainly moderate.
Ann: 2023 Annual General Meeting Address and Presentation, page-11
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