Yes, viney quite true... I can't assume for management here, and...

Coking/Met Coal hit rock bottom in late 2015/early 2016 when it was about $80 USD a tonne... that is about $123 NZD... 80% of that (the benchmark) is $98.40 (the price Stockton coal would receive being 80% of the benchmark), which is about break even for Stockton (under BRL ownership - which is far more efficient than solid energy)... sure, making no money on the export operation in an absolute worst possible case scenario... not exactly in a big poo poo, just not printing money like they are now... whitehaven coal back in that late 2015/early 2016 was around 60 cents a share... today, even facing similar price decreasing of coal that BRL is facing, they are well over $3... met coal price would have to go to record lows not seen in decades in order for BRL to truly be in the poo poo... not to mention solid domestic operations (which are less impacted by world coal prices).

Yes, viney quite true... I can't assume for management here, and I suppose neither can Mr Market... I have done the numbers (and share them multiple times), and it all looks 'ok' (even in a worse case scenario), but the market (and myself also!) should really hear this by Management.

... What I think we can all agree on is the next few weeks will be very intriguing.