Try thinking.
People don't plug coal prices > US$300/t into making investment decisions. For those with actual experience in such matters they may argue a Monte Carlo model may throw up such a case for a a year every 1000 scenarios, and they would also know this wouldn't touch NPV.
To seriously believe a company wouldn't invest because of a 40% royalty on $300/t coal prices is remarkable.
Target $18.72, page-2533
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