Full year results, page-12

Hi guys

@Pomodoro CRN is renowned for that type of trading since it came onto my radar. I have mentioned that in one of my earlier posts. Anyway, SMR lost around 15% in 7 trading sessions before today. Today it rose almost 4%.

@sheepdogcapital CRN only has noteholders as debt and some tax liability. a liquidation of Assets that can be realised quickly (cash, inventories and debtors) more than cover this by about $400 million in USD not AUD. Only $600m AUD.

Imagine how much cash they would have if they didn't return so much to shareholders and paid down noteholders.

Maybe the funds and shorters (if any) are betting on something we are not aware of? Not able to generate as much cash as last year? Too much funds deployed to US to increase capacity? I think it was around $300m in total between Aus and US. Can't remember exactly.

Who knows really what's going on. Looked like the trading machines were on auto pilot today. Hopefully they will switch them off soon.

Almost a week ago it went up almost 10 cents in a day, then next day down 13 cents. Coal price has remained steady over a week.

It will bounce at some stage if the cyclone moves away from Blackwater and flooding recedes.

Let's hope they have been mining plenty and not spending too much time with same resources developing Buchanan and Curragh further.

I wouldn't worry unless something goes horribly wrong. I would continue to buy but as previously shared in an earlier post, too overweight in CRN (not prepared to put more money in when I am down 15%) and the economic climate is not exactly stable. However, in saying that maybe CRN is on sale. Be Fearless, when others fearful. I think Warren Buffet said that.
CRN is a business, a good cash making one at that if all the stars align.

All of the above are my biased opinion. Trying to look at it objectively.

Rainfall totals thus far for first quarter.



10 day forecast to end of March