I would presume with a large mine in NSW and the QLD process I would not be surprised that the HO moves and consolidates where you are making money. My understanding is that the NSW will be larger even if they get approval for stage 3.
Your MD can really operate from anywhere in my opinion. It's now about covering costs and letting the cash flow for depreciation pay down the asset value. I think that the NSW operations will pay off the debt in 18 months. Then it's just collect cash to recoup the NAV and hopefully, you end up with a profit. The QLD operations are unlikely to be resolved until the economy in the area is so bad that a compromise is sought by all parties.
I am still happy to hold but it is definite that coal won't be part of the mix in 20 years. So we should bank on that and milk it...
NHC Price at posting:
$1.18 Sentiment: None Disclosure: Held
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