today, page-13

Watching the interaction of the coal futures vs share price, I topped up just after the end of tax loss selling.

With no debt, YAL is trading on an enterprise value less than pre-covid levels.

As part of a divsersified portfolio, its worth a 'punt' to me.
Dividends should be good as there is no debt to worry about, balance sheet is net cash and no debt. No debt, much fewer corporate worries.

I am also happy that YAL didn't do potentially expensive share buy backs (potentially expensive, because whilst share buybacks at current low PE, is only a function of the abnormally high price of coal and hence profit, nobody in their right minds expects coal prices to remain anywhere like their 2022 levels).

But with out debt, even with a drop in coal prices, and at current share prices, future dividends going 3 years out into the future should be very very reasonable. And fully franked