Ann: Quarterly Activities Report, page-18

So CRN has gone up the last 2 days which is very surprising to me.

All the comparisons to March quarter sound great but the reality is that March quarter was so shit that comparing with the June quarter is irrelevant in my view.

In the June quarter, having no adverse events from what I understand (weather/rainfall, effectively none for the period, no derailments, no machinery breakdown/idling) and they only

Group Revenue March qtr $766m
Group Revenue June qtr $728m
Down 5%

Did they mention that great number?

Price of coal was down from March quarter.

Some numbers sound great but at the end of the day you want to see great numbers turn into more cash quarter on quarter.

Trust me that the guidance for mining costs of $84-$87 is unachievable for calendar year 2023. They are not an honest company in my view.
I pointed this out in previous announcements at end of last year and early this year.

As someone said there are better coal companies out there to trade and invest in.

Please don't get defensive if I have CRN as a SELL, I do believe once the financials come out CRN and profit is rubbish for the half year it will fall heavily.

Therefore I believe it is currently overvalued.

They are my thoughts