Ann: Ferreira Coal Mine Extension , page-25

Conti should be able to quantify the significance of this news with a reserves update over the next few months you would imagine. Without local knowledge of the area, it is difficult to tell whether this new portion of Ferreira will be mined at costs similar to the ones that are currently be faced, or if costs are cheaper, or if they are indeed going to be higher than the current $80 odd per tonne. All of this has an impact on the value of this extension - I believe the markets subdued reaction to this news is a reflection of this reality.

The big news will be in tomorrow's quarterly release. The stock could bounce quite strongly if profitability is improving, but we'll have to wait and see!