The world's population has risen from about 6.1 billion in 2000...

The world's population has risen from about 6.1 billion in 2000 to 8.2 billion today.

Nearby nations such as Indonesia and Philippines have good rates of GDP growth: in the latter's case, exceeding six per cent in 2024. Philippines' electricity consumption is less than 10 per cent per capita of Australia's: the gap will slowly narrow. Increasing urbanisation in many 'third world' nations means more kwh of electricity consumed: look at the demand in India for airconditioners.

Mainland China's poor performance is an important consideration but so is the supply situation with coal, and the difficulty in Australia of opening new mines, noting Plibersek's recent decision to deny a proposed NSW gold mine.

I won't manage to pick the intraday or intramonth low for YAL but its large cash holding hasn't gone missing just because a dividend wasn't declared last night.