Mother nature only rated a small mention yet the floods and generally freakish rain events that NSW experienced have to be acknowledged. ESG at least mention this and don't use it as an excuse, but matter of factly point out where it has impacted. Can't hold that against them.
Shareholders should also note that expensive drilling ops are now complete for the time being, meaning that they are not going to tear through the $41M in the bank in a hurry. This should ease any fears over cap raisings for exploration in the next 12 months.
There will be further upgrades to reserves and resources in 2010 as a result of data from FOUR locations over THREE coal seams.
3 sets of seismic survey data collected over pel238 will assist in reserve certification and future exploration planning.
Its true that ESG could improve a bit on the structuring of their quarterly reports but the information is there.
For a bit of sector comparison, have a look at the Arrow quarterly, released also today. This is like peering into the future of ESG, and this is why ESG is going to be hot property. Yet, for a whole lot of different reasons, like yaqona and others have pointed out on many occasions.
Expect the un expected and that is the only way to play this one.
ezirida
ESG Price at posting:
90.5¢ Sentiment: LT Buy Disclosure: Held
