In a funny way, the dramatic slowdown in the Queensland coal...

In a funny way, the dramatic slowdown in the Queensland coal market may act as a wake up call to management to generate value from the balance sheet.

In some ways, there is less risk in shrinking the business to free up the 52 cents of asset value than there is in endlessly growing it. Especially when the shares are 12c !

One sanity check I like is that they have spent more on new fleet in the last 12-18 months than their entire market cap.

If the Oz miners won't pay for that investment, they should sell the kit and move on.