I've seen a few posts where you've mentioned taking a site...

I've seen a few posts where you've mentioned taking a site tour—encouraging to hear. Also noted your high regard for Danny, which is promising. That said, as I’ve unfortunately experienced with other operations and MDs, it’s not uncommon for a strong public persona to mask execution issues behind the scenes.

In your opinion, is the main issue here the Board of Directors or the broader downturn in coal prices? Personally, I think the underlying assets have potential. If global coal prices recover, there's a clear path back to profitability—assuming competent management and execution.

Yes, things are tight at the moment, but volume remains elevated. That suggests someone is still actively trading this. Does anyone have access to broker data? I haven’t checked the T20 yet, as I'm prepping for a kid’s birthday today—so not the day for a deep dive, unfortunately.

It’s clear some basic and avoidable mistakes have been made. In my view, these should never have been allowed to occur, and those responsible should be held accountable—up to and including termination where warranted.

Examples:

* Fudging numbers around coal quality

* Not having sufficient cash to cover tax liabilities

These are fundamental operational failures. Accountability must be enforced. Bonuses should *never* have been paid out under these circumstances, and remuneration increases should have been suspended the moment the share price began its downtrend.

I haven’t done a full due diligence review yet, but I plan to compile a checklist to work through systematically. I'd also like to dig into the KPIs—particularly what triggers bonus payments. If the bar is too low, that needs to be challenged.

Thanks again for the insights. Looking forward to continued discussion. The more we all understand how this company operates, the better equipped we are as a shareholder community.

Cheerio for now