Going concern, page-31

I think the answer to your question lies with the coal sector. They have had to learn to live with depressed prices and in some instances negative margins for quiet a while now. many of them have high debt levels but still survived. companies learn new ways to survive they reprioritise spending, they seek new alliances or they diversify their income streams. Self preservation is one of the strongest human emotions and it exists in companies as well. I think the battle is nowhere near finished and the recovery crowd expectations are way to high and the doomsday crowd concerns are a long way of becoming true. Will see how it plays out.