I agree something is up with ETE because the buyer(s) keep paying up.
I seem to always bang on about AQC, a small coaler in the Bowen basin. There is a fundamental reason why it could go (up that is). They have an EPC next to RIO's Hail Creek coking coal hub. Back in the days when Arrow Energy was around, they were drilling for gas but found a 10m coal seam. This is why RIO Tinto has a JV with agreed milestones (including $2m already paid) which starts with drilling. Volume and trading behaviour in the past few days indicates that RIO drilling may be close, and then this little coaler will run hard.
