IJ, I think the market is telling you a blindingly obvious...

IJ, I think the market is telling you a blindingly obvious thing.  This Emperor has no clothes.  I had dissected their latest report and was shocked that they had generated hardly any free cash flow. 

Yes, they may generate cash flow in the next few months...but I will believe them when I see the results.  I find it interesting that there have been hardly any share buybacks for many days now.  In fact, the usual 200,000 shares to buy from the company are not even in the list of buyers.  That tells me that they still don't have any cash. 

Why BRL is doing so poorly is even more shocking when you compare it to SMR.  SMR is +16%...and the chart is going the right way...BRL barely struggles to stay afloat.  It is even damning for BRL that they are barely able to stay afloat while met coal prices continue to soar.

Meanwhile, the management continues to maintain its head in the sand approach.