My investment in WHC is only recent, over the last six months or...

My investment in WHC is only recent, over the last six months or so. I don't have the background to the company, or as in the case of one or two, the actual mining experience. So treat me as a newbie.

It seems to me that the issues brought out by posters over recent months could be summarised like this, but please comment and correct or extend as you see fit.

A. Short term –

1. use free cash for dividends

2. pursue long term as a secondary consideration

or, B. Long term –

1. ensure continuity of productive business – eg Daunia and Blackwater

2. retain sufficient cash flow to manage any debt

3. Pursue buy back ? Depends on circumstances; could be an excuse to “hide” excess profits, or to hide a failure to use the excess funds to ensure continuity of productive business

C. Other questions –

1. Are the Board and management performing effectively?

2. Is total remuneration of senior management and Board members too high?

B1 seems to me to be pretty standard expectation of almost all companies. B3 paused, in order to satisfy B1 and B2.

Bell Rock focus on A. Let's set aside motive, at which we may but guess. Is that focus justified? Why?

Should TSR ("total shareholder return" - I was once gently reproved in a workshop I was leading - "please don't use acronyms; they exclude people", which can be so true depending on the audience - and sometimes used to demonstrate superiority by exclusion) . . . should TSR be assessed over the short or long term? If a sunset company, perhaps the former, although that may be a death spiral.

Your thoughts, please?