Target $9.36, page-38

Indeed, many analysts are youngish males (and a rising number of females) who've never lived through a proper recession, and who do not understand the vital role thermal coal plays in developed (and developed) Asian nations. Nor do they care about how coal means villagers can prosper in micro businesses, and have the chance to progress beyond that if they are entrepreneurial.

They also by and large see 'ESG' as a substitute for religion - to me it isn't - and lack cynicism about the virtue signalling that occurs in so many government departments and agencies, plus publicly listed (and unlisted) entitities.

And too many only fly over rural Australia while jetsetting off in business class on an overseas holiday, so they've never observed how towns like Narrbri or Moree succeed from coal mining or agriculture. These analysts lack wisdom and maturity.

But I bet behind nominee companies some if not many of these instos own WHC.