Absolutely agree Alex. Zero chance unless coal prices start a bull run now for next 2 years and will have to run fast too.
Coal prices would need to more than double from here.
Just using basic metrics (forget everything else)
Thermal in 2 years time say approximately double current U$200 and met coal U$350 then WHC share price $10 and then there is a sell at the top again and the downward cycle starts again. For thermal since the GFC there has been 3 bull markets. Each one lasted approximately 2 years.
Met coal on the otherhand has been much more volatile in the same period. 2017 saw it rise because of supply disruptions from cyclone Debbie in Qld and China buying up big.
Hopefuly China starts to buy because met coal is fairly cheap comparative to thermal.
Need met coal over U$200. It's a simple as that.
(20min delay)