Market Oversupply And Demand WeaknessSurplus Chinese steel imports, global trade tensions, and potential mine restarts could add supply while weakening demand, putting downward pressure on met coal prices and company revenues.
Project Optionality RiskCompany commentary downplaying the likelihood and timeline for a second longwall at Blue Creek reduces the probability of significant volume and margin upside from that optional expansion.
Valuation RiskConcerns that the share price already prices in elevated met coal assumptions create downside risk if commodity prices or operational performance fail to meet those expectations.