You realise most of YAL's assets are in NSW where the royalties will be ~11%?
QLD has 40% royalties. And this is before a host of other state and federal taxes.
If you think "they're still making a motza", here is how the QLD companies went for the 31 December 2023 half year:
BCB raised equity
CRN declared a $0.007 dividend
TER cancelled their dividend
SMR declared a $0.129 dividend (this was for the calendar year 2023)
Out of the 4 mostly QLD based coal companies: 1 makes losses; 2 don't make enough to pay meaningful dividends; 1 has a dividend yield less than the cash rate.
And yet, you think QLD royalties is okay?!
Ann: Company presentation, page-328
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