My parents always suggested "both is not an answer to 'which one?'" but in YAL's case, is a combination of (1) and (2) above a feasible and rational Board decision?
If so, given WHC's announcement of an eight cps dividend (albeit its different circumstances that facilitate its share buyabck as well) plus debt repayment, can we expect at least 10 cps from YAL?
Despite an overnight futures drop, the outlook for coal, even the lower grade YAL sells, remains pretty good.
Prices can drop further but there's a fair way to decline before YAL again becomes unprofitable. Hard to see many new mines being approved in Australia, and those that are 'ready' such as NHC's New Acland Stage 3 near Toowoomba/Oakey (Qld) are often delayed because Labor/Greens governments hate coal despite the huge export earnings and State government royalties that black gold provides.
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