I've taken the view that volatility is opportunity. This is a leveraged bet. Operational (mining management and weather) and financial (there is only so much rope they'll be given before they hang themselves again) leverage.
Costs have come down, hopefully there is more to come but one assumes the low hanging fruit has been picked first, capex has nearly wound up. They've git a runway to 2027 assuming met doesn't stay below 180 for too long. Alternatively, seeing met jump to 200 would mean they are home and hosed, then printing cash after 2028/9 (hoping they'll take the first opportunity to clean that balance sheet, no more interest rates above 10%).
I am still taking the bet that they will make it. In the mean time, I'm going to moderately increase my position size when opportunity presents itself. I am still holding, and will look to pick up more when it goes under 13 cents.
CRN Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)