If you assume that the half year is going to be the amount...

If you assume that the half year is going to be the amount ongoing, then that's roughly 60c a year and you'd need more than ten years of that to recoup your money at these prices, which just isn't good enough. I think that the buyback will just cushion coal price falls, such that it just chugs along.

What they should have done is pay out almost everything, share price drops a lot due to no cash cushion, buyback using cashflow at cheaper prices, actually buyback at great prices and then have higher dividends every half ongoing, reducing shareholder capital risk with every payment.

They are doing the opposite: small dividend, high cash causing higher share price, buying back at silly high prices that are already under water from recent buying, exposing company to higher gov royalty cash grabs because they know there's enough cash to keep things going even if they take half the upside, much longer payback time on shareholder capital as buyback may always be higher on average than the share price if commodity prices fall slowly over time and a portion of the bb will be wasted as a result...

not happy Jan. I'm holding until I can sell.