september quarterly report

This seems to me to be a very bullish report:
"Coal sales of 1,958,000 tonnes for the quarter is a record for our three mines.
The Ashton longwall production for the quarter exceeded budget by 250,000 tonnes
Minerva production for the quarter has exceeded budget and sales are dependent on rail availability as the port of Gladstone is now delivering reasonable vessel turnaround times with the commissioning of the third shiploader and the fourth berth.
Felix has put on hold the sale of 49% equity in Yarrabee.
The coal market has strengthened considerably in the past three months. Felix has recently concluded a sale of Ashton thermal coal at US$80 FOB for 6320 Kcal FOB which equates to US$85 for Ashton’s higher CV thermal coal.
Moolarben is the next project for development. The court case with Xstrata/Ulan Coal Mines was completed on 3rd October 2007 following Judge Smart’s onsite inspection of the old cattle fences and stockyards on the Ulan property. We now await the court’s determination. Felix maintains it’s position that the Xstrata/Ulan case is without merit
Coal prices are improving although the strong Australian dollar will affect profitability. Felix has 34 customers in 10 countries and price negotiations are continuing for the 2008 deliveries."

Taken the liberty of not pasting any bad news but there is very little of that, apart from continuing demurrage problems at Newcastle port. I thought the recent price rise was expectations of success in the Moolarben case, but this company is obviously galloping off full steam toward the heady broker projections of the next few years.

This is the best quarterly they have released imo.