I think they're unlikely to pay an interim dividend, they...

I think they're unlikely to pay an interim dividend, they increased debt significantly last financial year as they got a little ahead of themselves paying big dividends coming into a protracted downturn in coal prices.

They would have only started to generate some decent cashflow towards the end of last calendar year, they probably need another 6 months to pay down a good chunk of debt before they recommence paying dividends (in my opinion). Quite possible, even probable, that they will pay a final dividend, assuming coal prices remain reasonably strong. Right now they will be generating strong cashflow with a favourable mix of thermal coal prices and exchange rate.

I've gone from being on the fence on doing a purchase a few months ago (decided against it as I was concerned if coal prices remained that low for much longer they may need to do a capital raising), to having bought a few small parcels over the last few weeks, as I think they are probably out of the woods now that coal prices have ticked up, they should have paid down some debt over the last few months so the risk is reducing. If I were on their finance team I would be advocating for getting down to a roughly neutral net debt position before recommencing paying dividends. They may be close to that in another 6 months if coal prices hold up. Holding for the next spike in coal prices, if we get a good bull run at some point from this level we can generate our market cap in cashflow in a couple of years. I am fairly bullish on coal prices over the medium term, won't explain my reasoning here but I think there is a strong case for it.