What many people don't get is that UNV sells 80% of their coal into the domestic market at fixed prices. Which means their revenue is largely protected from negative seaborne thermal coal prices/sentiment. Sure, it limits share price upside but equally limits the downside. Seen it so many times over the last 10 years - UNV SP hardly moves either way. The current drop is in my opinion pure contagion from TER.
What many people don't get is that UNV sells 80% of their...
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