resgen moves closer to production, page-25

From your article GS

"Calendar 2013 swaps prices reached USD 100 to USD 102 a tonne, a level that is likely to draw out fresh offers from sellers who could not make a profit at $82-$88 a tonne, the price range seen for most of the past two months.

There is a growing consensus that the market has seen the lowest prices it is likely to this year and that they will recover gradually in the next several months."

This probably explains why a lot of coal companies are doing it tough at the moment. There are some heavily discounted Coalers out there and I'm sure China, India & Co are on the lookout to secure cheap assets. The rich always get richer by buying companies when they're down provided the fundamentals are there. I think we can all agree that RES has the right mix of fundamentals, management, resource etc. Not that I'm suggesting a T/O would be the best thing just yet! PJ needs more leverage in order to negotiate a better deal for shareholders. I wouldn't settle for anything less than $3.00 per share .. no way!

As for Box 2, well I think we're well on the way to securing finance with the banks currently conducting their due diligence. I'm looking at October for finance according to prior anns.

Based on all this we should see a strong finish to 2012 leading into mine construction next year. I'm gonna go out on a limb and predict 70-80c by the end of this year providing the following conditions are met,

coal prices pick up

we get Eskom to sign a contract

Transnet contract is finalised