YAL

1.29%

$7.04 yancoal australia limited

Thanks for your excellent, informative account of the AGM...

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coalforme

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30/05/24

12:17

Post #: 74081622
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Originally posted by Hopeful9: ↑

At the AGM, questions were asked about the company's cash surplus and whether a buyback/DRP would be considered.

The reply was that several factors are considered such as free float, daily trading volumes and the constitution. No plans for a buyback or DRP as franking credits are useful for Oz holders.

The MD/CEO said YAL was committed to native regeneration after mining. In 2023, YAL initiated a carbon credits review re environmental planting.

Water is a shared resource. YAL complies with licensing requirements: Commonwealth and State legislation applies. Water is recycled on-site: 9298 megalitres in 2023, a four per cent rise on 2022.

At Stratford, the renewable energy proposal is still subject to a study. The company's primary business remains mining.

The Chairman said YAL's resources YAL had would expire (typically) in 15 to 20 years. The Board needs to consider (FIRB) requirements re critical minerals. The three major YAL mines are some of the best in Australia. We are open to diversification but within core competencies.

A 'climate change activist' (Mr Anderson) asked a question. He's entitled to his views but sprouted the IPCC findings and how there should be 'no new coal mines' in Australia. He went on and on, making a speech before asking about 'catastrophic global warming'.

In response, the Chair said YAL had a role providing energy for the Asian region: their livelihoods. Coal has a long future. (Well said!) YAL has an obligation to maximise shareholder returns and the Chair doesn't have a problem providing energy so people in Asia can have a better life.

Another shareholder said coal was worthwhile but referred to the $5.05 previous per share takeover offer as way too low and a ripoff: the independent Board members had similar views was the reply. The SH said the controlling SH have levers they can push: that's his concern. The Chair said in reply that the mainland Chinese majority SH had been very supportive, such as in 2015 investing in Moolarben's expansion. Even when times were bad, they helped. They are aligned with other SH. Have not heard of a further offer.

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Thanks for your excellent, informative account of the AGM discussion, Hopeful9.

YAL Price at posting: $6.54 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $7.04		Change 0.090(1.29%)		Mkt cap ! $9.295B

Open	High	Low	Value	Volume
$7.02	$7.09	$7.00	$8.556M	1.214M

Buyers (Bids)

No.	Vol.	Price($)
4	18915	$7.03

Sellers (Offers)

Price($)	Vol.	No.
$7.04	8841	2

View Market Depth

No.	Vol.	Price($)
2	15915	7.030
1	7114	7.020
2	6500	7.010
6	6684	7.000
1	10285	6.980

Price($)	Vol.	No.
7.070	3500	1
7.090	5336	2
7.100	7045	1
7.110	3603	1
7.150	41605	4

Last trade - 16.10pm 16/08/2024 (20 minute delay)

YAL (ASX) Chart

Thanks for your excellent, informative account of the AGM...

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Thanks for your excellent, informative account of the AGM...

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