So you would think.  But the management has been very clear in...

So you would think.  But the management has been very clear in dividend policy, so I think you are barking up the wrong tree.  They changed their tune to "review again after FY19 full year result", from something about being worried about the L&M case (ok, my paraphrasing, but you get the gist).  

Of course, they can always speed up their share buybacks.  The 750,000 share buy back on Friday was quite a positive surprise.  Let's see if that is a one off or whether they are finally getting religion.  Or just getting sick of being the laughing stock of the ASX.   

FWIW, SMR is now +25% for the year, CRN is +11% and Warrior Met Coal in the US is +21%.  We are barely up a penny...and the bid ask is such that we can always slide back to zero returns for the year.  Mr Market remains contemptuous of our little cash engine.

Meanwhile, developments in the coking coal were a shocker.  The biggest importer of met coal (China) slams the door on Aussie exports of met coal, and the met coal price...goes up?  Wow!  The market action tells you that we are getting ever tighter supply conditions in met coal.  $300 remains in my cross hairs.