Another classic - developed by "loyal shareholders" - harvested...

Another classic - developed by "loyal shareholders" - harvested by new owners after liquidation process .... wash rinse repeat.
Instead of bemoaning management, the government .... etc etc etc .... and so called fundamental analysis ... a simple technical based trading plan would have prevented large losses .... after peaking near 40c, it formed a "rolling top" and then went through one key support after another .... 30c, 25c 20c, 15c, 10c !!!! ..... are you still holding ??

When fundamentals clash with technicals, back the latter - technicals (share price and volume pattern analysis) tells you what people are doing while fundamentals are (supposedly) based on what people think about a stock. In todays world where every man and his dog has internet access to contemporaneous stock prices, announcements, rumour mills like HC, cheap charting programs .... mostly all the knowable information about a stock is in the price, and "volume confirms price" ... bug volume at tops and bottoms signals turning points generally ... exceptions exist but their not the rule.
When coal prices waned, the tide started going out, and to paraphrase Buffett, thats when you see who's been swimming naked (that is exposed to debt, risk and faulty analysis etc).

The commodity leads .... when its rises it drags stocks up, and when it declines, it drags them down, with the "risky" stocks suffering most.
This has happened in recent times in nickel, lithium, rare earths and now coal .... if you bought low ... you may be ok, but if you bought near the top, that money's gone ... so don't have all your eggs in one commodity ...... and some basic math - a 50% fall in SP requires and 100% rebound to get back to the same value .... so "stop loss" early ... keep your losses relatively small .... capital preservation is rule #1, 2, 3
And, be suspicious of broker analysts .... they make money these days, not from successful client advice, but from CR's ... hence the low brokerage rates - one of the unforeseen consequences of cheap brokerage by the likes of CommSec et al.
Yes ... these are lessons I learned the hard way.