If you are in a position of balance sheet strength then now...

If you are in a position of balance sheet strength then now might be the ideal time to buy *profitable* coal mines. They are cheap.

Is buying *unprofitable* coal mines a good thing for a company with Linc's financial track record and their level of experience in project managing new mines into profitable operations?

Spinning off the coal division isn't a bad idea because now is not the time to sell it. But Linc doesn't have the funds to develop any of the potential mines to operational status do they? Maybe they will borrow money to do that?

Maybe the long hinted possible Coal JV is imminent, maybe it will just be the promise of a JV and someone like Barclays will handle it (siphon some funds for no guarantee of a result).