Crocodile Capital are a large resources fundhttps://ca.wallmine.com/fund/6kl/crocodile-capital-partners-gmbh
They are also invested in AMR, Teck etc
They would have carried out substantial DD before taking such a large stake in Bathurst, good sign and shows the assets (Stockton and surrounds) are high quality.
With an EV approaching negative value and an asset in stockton that will generate free cashflow in the tens of millions per year for 2 decades, this looks like a good exposure to met coal with a very limited downside based on the cash holdings.
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