By the conclusion of the meeting or shortly thereafter at just after noon AEST, the SP had declined 5.36 per cent to A$4.505, down A$0.255.
This seems an overreaction. As usual, 'Mr Market' instantly punishes perceived bad news, but if there are dollops of a realistic, more positive future opined at an AGM, this grumpy old chap refuses to pay any attention.
I don't believe 'Mr Market' appreciates that gradually during the next few months, demand for thermal coal is likely to improve, and any oversupply issues perhaps not entirely disappear, but certainly moderate.
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