This looks like a journalist who picked up the phone, spoke only...

This looks like a journalist who picked up the phone, spoke only to the Bell Potter analyst...and just regurgitated whatever gibberish the analyst told him. 

Dividend?  Unless they win that court case, there is zero cash available for BRL.  20 cents in 6 months?  More likely, the stock is going to drown in an orgy of selling.  Already, we have had more than 112 million shares traded, and the share price has tended more to fall than rise.  Here we are up a grand 0.5 cent since BRL showed up to buy their own shares.  BRL seems to have not scared Mr Market at all into pushing its share price up.
   
Something remains horribly wrong in the land of Bathurst Resources.  Met coal prices keep moving up.  I sound like a broken record, but June 2019 met coal prices are now at an all time high of $192.  Clearly, Mr Market does not seem to think BRL has any kind of free cash, despite all the Bell Potter claims.  They drained away whatever little cash they had in the last 6 months.  Next TWELVE months cash flow will be devoted to paying off L&M.  After that, they have to cough up cash for Canada.  Then who knows what new sustaining capital spending they come up with, just to keep Stockton etc.. going.  In other words, I can't see any free cash flow till the end of 2021.  That far out, even a met coal optimist like me can't see prices hold up at these levels. 

In short, this is a modest company and modest management, with a lot to modest about.  And their modest cash holdings, are no longer capable of even sustaining a modest share buy back.