The idea Draig can simply dig the coal out with a front end loader very cheap just isn't so. I've invested in coal companies since 1983 and learn't to my cost about the amount of cash that is involved.
Draig has a $13.5m market cap and that is severely limiting in the amount they can borrow as cash dwindles month by month.
To give you some idea of costs, developmemt of Yanzhou coal's Malarben mine in NSW cost close to A$400m -- fair enough, Draig may have costs nearer more than A$50 million to develop in Indonesia and further costs in Mongolia. One of Yanzhou's diggers cost A$3 million alone.
Draig must be waiting for a backer the likes of Tulla but I doubt Kevin Maloney would be interested.
elections, page-10
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