At the time coal prices were $400 + per tonne. The company was valued at $9 bil with the shareprice arond 10.50 -11. If those coal prices were maintained there was plenty of cash to do both buybacks and dividends of $1+ per year.
Now you are saying coal prices were unsustainable and once in a lifetime. If you believed that at the time you would have sold into the strength. As we were supposedly profiteering from the Ukraine war, which will not end anytime as we all believed, well at least I did, that price's were sustainable.
i think the real white elephant is when Penny Wong flew to China to strike some deal to resume trade with Australia- especially with coal. Well since trade has resumed we now find ourselves with a coal price 50% less than it was prior to the war starting.
i think management has acted very prudently in the wake. And i believe the fingers should be pointed elsewhere.
Just my opinion
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