Ann: Daily share buy-back notice - Appendix 3E, page-11

Good catch Blackcap! 

I am no longer a Hold in terms of Sentiment.  I am now a seller on rallies.  By rallies, I don't mean 13 cents or so.  It has to be higher.  I have better, more liquid and infinitely superior companies to buy than this crap management.

The AGM seemed like a con job to me.  Where is the video?  My confidence in BRL management has sunk to zero.  

The problem I see now is that there are way too many people like me.  Everyone is a seller on rallies.  Which means the rallies won't be anything to write home about.  BRL itself can't keep the share price up long enough...they are hardly buying any shares.  75 million is nothing.  Just look at the last few days of trading.  Millions of shares getting out while there is a bid.  

BRL will push the shares up "artificially"?  I would turn that around and say...BRL is trying to keep the share price from collapsing!  And as we have discussed Ad nauseam here, the valuation of BRL is a joke.  3 times EV to cashflow falling to 2 x cash flow by June 2019. 

Meanwhile, coking coal prices continue to go higher.  

Met Coal Neutral.Supply is Getting Tighter? MB Spot Premium MetCoal (Australia Export fob) is DOWN US$0.29/t overnight to US$224.22/t. Whilethere hasn’t been any immediate impact, pressure is indeed building in the spotseaborne coking coal market – notably on the supply side. There are more than 50vessels waiting at the Dalrymple Bay Coal Terminal (DBCT) as of today. All fourberths at DBCT were closed from the 8th-10th of December due to fears ofcyclone. It has since reopened. Some miners are holding back their salesbecause a lot of vessels are not going to load till January to February periodanyway On the domestic Chinese front, historically, Chinese coal outputtightens in the last 2 months of the year as domestic miners put safety astheir top priority to lower the odds of mining accidents.