Ann: Half Year Results Investor Presentation, page-17

I think there was a few sales bottled up to that would have been in inventory not revenue due to logistics which is why they are guiding for lower 2H costs. There is much to like in this announcement. I bought into this in the expectation of divies but wasnt expecting any until next year. As others have posted they need to build a bit of a buffer first for internal capex .

Looking forward to next year, this is looking good for around $1 EPS per year going forward which should, assuming they payout 50 % of that, should see dividends at 50 cents per share sustainable which makes buying at today's price of circa $2.70 a pretty attractive proposition. If they can maintain these solid eps numbers for the next half ( which implies a good divie is coming) it wont hang down around these levels too long and suspect it eventually drifts up to $4-5 range if these good results keep building. You don't own coal stocks but anymore for stellar capital growth but long run dividends and this is shaping up well.