quarterly, page-18

agree with you viney. too much close-minded optimism here for any real discussion on the pros and cons of this company. I will have a go though... :-)

with reference to the quarterly, there is obviously some good stuff in there, but in my opinion there is too much talk about acquisitions and pie-in-the-sky stuff like kenya and botswana. all this does is scare the market into thinking there is a lot of dilutions coming down the track. they have enough on their plate already - US$40M to develop Penumbra and thats just a baby - how much is DeW going to cost, and now Kenya, Botswana, Coking??

They havent even got an underground mine operational yet, so who knows how accurate their cost or time predictions are, or if they even have the skills to manage it all. Going 100m underground is a lot different to the current operations which are basically picking coal from the surface. I wouldnt be surprised to see blowouts, especially if their focus is elsewhere.

The greatest risk to new companies is to attempt to grow to fast - almost inevitably leads to a stretching of resources, a major stuffup and failure. if hotcopper does have any voice with these people, it should urge them to concentrate on developing their resources and getting the cash flowing (they lost $25M last year dont forget) before they go chasing dreams like Kenya and Botswana.