austral coal

The next month will be critical. Obviously a lot has been said about the production problems these last five months.

The ANZ bank appears to be supporting the company and their advisers are clearly looking at their options - ie possible sale. If production doesn't lift soon then I think the board and shareholders will give up and sell out to a major.

The resource is clearly valiable, at least $1.20/share imho but a sale in these distresses times might not get there.

Equally if they do sort out the technical problems (as they appear confident they will) the profits will quickly return.

Good investing