I didn't realise that the thermal coal price tanked while coking...

I didn't realise that the thermal coal price tanked while coking coal, went higher over the last week or so.

The coal prices are now getting back to how they have been for decades. That is, coking coal has always been higher than thermal coal by a big margin. Coking Coal will always be king for a very long time.

While steel is needed for construction (coking coal is the only way to produce steel) as well as other things like wind turbines, the very thing that coking coal contributes to will eventually impact thermal coal mines. As more supply comes on with renewable energy the less demand for thermal coal. That's the simple view I have.

The March futures gap is even wider by approximately $USD 20

Why did coking coal producers tank on Friday? Here is what I have read.

When asked about the potential for a new temporary tax on gas and thermal coal, Prime Minister Anthony Albanese commented:

Well, what we know is that we can’t just sit back and watch while energy prices go through the roof for households and for businesses. And that could undermine the manufacturing sector, it’s already placing extraordinary pressure on it. We are trying to work through these issues. We want to work in a cooperative way. But we need to acknowledge that there are extraordinary profits being made at the same time as the customers are really doing it tough.

If this became a reality it would likely lead to lower than forecast earnings and dividends for coal miners. Though, there’s no guarantee that these taxes will be introduced. We’ll just have to wait and see!

It's funny how a comment creates panic on markets. That's where opportunities arise in my opinion.

As for CRN, it's a bit of a guess as to whether they made money in December quarter and whether they will pay a dividend.
I think you would like to see that overall profit did not fall from End of September to end of December.
I think CRN will have a good 2023 as I have read that the weather pattern this year is likely to be El Nioi which is dry weather. Blackwater has had effectively no rain since 22nd January.

I also believe that guidance will be higher this year based on the forecasted weather pattern in Australia.

GLTAH or going to buy.

I love COKING COAL.