re: Ann: Initial Coal Resource of 339Mt at Hi... I'll post this again, since everyone ignored the question around quality yesterday.... all I'm looking from someone is for some confidence XEN have decent quality coal ??
"I see where you're coming from Ekman. On the first page of todays announcememnt, they bullet point "high quality coal ", but then they go on to say;
"Forecast yield is expected to be at least
50% and coal with the above qualities is generally suitable for export to the Pacific Rim
market."
generally suitable ??????
I dont know much about judging coal quality, but i dont think they have listed enough parameters around the quality to ensure confidence at this stage around the quality matter, especially with whimpy language like "generally".
I dont hold, and am still trying to work out whether to buy or not ???? ..... may be due for a SP retrace based on buy rumour / sell the fact phenomena..... says studies not due to compete till end of year ..... that may put some ST pressure on SP, in which case I may buy in, if I get a sense the quality concern is OK.
I own RIV, and they clearly state they have premium hard coking coal, but even though XEN dont need to have cream stuff for the SP to out perform over time, some more detail from management around the grade qnd quality of this coal may be needed ?
good luck to all holders ..... the early birds here sure did spot a multi bagger nice and early .... very impressive !"
XEN
xenolith resources limited
