They have sold the Surat assets because they are stranded, and...

They have sold the Surat assets because they are stranded, and will be stranded for a long time to come. COK punted on Xstrata (now Glencore) and the Wandoan mine, and lost. Yes they spent a bucket on exploration, and that has been money wasted but at the time it was the Surat Basin that looked to be moving ahead faster than Bowen and Galilee. But Surat is thermal coal, and those prices have collapsed more than HCC and PCI. But both Bowen and Galilee Basins have rail and port access, so I can see why Surat assets now non core, and third in line for COK management. Only New Hope has any interest because they need tonnes through the Port of Brisbane as they have a stake in that facility. There is only one rail line out of Surat Basin, and that goes through Toowoomba to POB. $25m in the circumstances a good number.