Completely wrong they know exactly what they are doing. Almost...

Completely wrong they know exactly what they are doing. Almost everyone hates Coal companies. Except people like us. Reality is prices are not going to stay at these levels as stated here ad nauseum and in any event company tax at 30% will no longer be paid on the lost profits but instead royalty tax which will be income tax deductible. Therefore the impact on NPAT will be far less than postulated. I hold these truths to be self evident.

There will be a loss of some franking credits too but at a 40% pay out ratio that will not matter much either. Expect a special div to be off the table now and buy back much more likely.

I am guessing NSW will follow suit.