Ann: Company presentation, page-56

Appreciate the comments. I remember thinking the same thing about S32 looking to divest out of their coal assets. They’d be mad as those operations are what’s keeping their business afloat, but hey if they willing to sell I’m sure there are plenty of coal companies that would gladly oblige. Perhaps in the future there may be some internal growth opportunities for YAL through their HVO joint venture with Glencore. Split operation, 49% owned by Glencore, 51% owned by YAL. It’d be nice if YAL had opportunity to buy larger stakes in HVO or Middlemount (YAL owning 49.99% economic interest, Peabody owning 51%). Obviously Glencore and Peabody would have to agree to sell, I can’t see that happening unless they need the cash elsewhere…