quarterly, page-4

frog - the quarterly is out now.

I like this bit: "Scaddan Energy Coal to Liquids Potential

A firm of consulting engineers providing specialist technical feasibility and costing analyses to the energy sector, was engaged by Premier Coal to evaluate the current technical and economic viability of a large-scale coal-to-liquids (CTL) fuel project for the Scaddan Energy project. The consultants completed the “Assessment of Development Potential Report” in May 2007. The consultants are currently being asked to review and update their report and we expect it to be available during the June quarter."

given current oil prices the report should be interesting - if economics aren't good now they never will be.

Anyway this has been a major disappointment in terms of price, fundamentally it looks like a good punt to me but my average is reasonable (IPO plus topped up 60c ish)...pretty surprised at reaction to auction as this for me was just a bonus. Opes Prime worries probably exacerbated the carnage.

My view is the lignite is worth a lot more than the current share price reflects. But until we get tangible news it goes on the backburner.