Target $18.72, page-7568

Behind closed doors I think they already have. The industry faces internal efficiency issues that aren't easy to solve. Owing to the reality that we live in a hydrocarbon based economy and that the fundamental unit of currency is the hydrocarbon bond, the same problems which occur with Central banks and politicians printing money... there needs to be some sort of governor on the system. Industry itself does this through M&A with competition driving cost efficiency... however, it becomes way to easy to sit back and take in the money without focusing on efficiency and hence letting waste run wild. To combat this, the government itself can drive efficiency by taxing Australia's mines... this, in turn, creates a more level playing field at the global scale by handy capping Queensland mines... as a result, we're seeing the US coalers catch up and eventually our Queensland mines will get their relative margins squeezed... this will force an efficiency drive. The greatest risk is that the royalties remain high for to long and the bureaucrats kill the golden goose. Eventually, the royalties will need to go... Hopefully soon and before the Olympics , but, I reckon there's a chance they'll go after the Olympics.

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Yes

Yes, we don't talk about this, but, it is what it is.