Ann: New Acland Stage 3 Update, page-71

Probably continuued decline in the thermal coal price
https://tradingeconomics.com/commodity/coal

Not a big issue for long term holders. Anyone with their head screwed on never expected prices to remain elevated.

A small extract from Intelligent Investor hints that we may yet see further falls:
"Thermal coal prices have fallen dramatically this year, halving in a matter of months. Spot Newcastle thermal coal prices currently sit at about US$180/t, impacted by a collapse in European gas prices and high inventory levels on the continent.

That price, however, equals the pre-covid record for thermal coal. In ordinary markets, we would expect such inventory levels to lead thermal prices well below US$100/t, not stay at historic highs." 22 March 2023 https://www.intelligentinvestor.com.au/recommendations/new-hope-interim-result-2023/152333?qa=