Ann: Quarterly Activities Report, page-8

I am completely with you on the production volume. Interestingly, they put out the figure quite upfront with little explanation on why, as if the low old figures--which were justified at the time--should be naturally expected now.

Yet, short of a skeleton in the closet (as @FrugalSage alluded to), a major pull-back may be unlikely given the overall met coal market momentum. And (after adjusting for the dilutions: 40%?), CRN has not recovered as much as peers (e.g., NHC): baseline in the following figure in early January, 2020.



A few days ago, I transferred some funds to Orocobre, not because I expect a pullback in CRN, but since the behavior of market participants suggests a real lithium shortage: battery/car producers are jumping on any supply source--even in Mali-- to secure their input.