safe bet

Short IKW summary to kick off the discussion since we have nothing much to celebrate or whinge about as yet:

We have great fundamentals underpinning long term coal fundamentals and thus price.

Experienced management team in coal project development.

Production possible by mid 2012 and cash flow positive by the end of next year.

Strategically located to port facilities, overseas markets, Forbes Magdalena coal mine, Mittals Newcastle steel works, and the corner deli.

And then there are the usual loose ends that comprise the risk end of the investment.
They need to tie up binding agreements with rail and port facilities, hopefully in the next quarter. This would be a trigger for share price appreciation. There is the raft of other approvals prior to mining which would appear to be a matter of course, but still have to be achieved.
THere is $30mil in the bank and they forecast spending all of it to get Newcastle 1 up and running; so that means a cap raising next year. This should be able to be done at a much higher price as all being well they will be on the verge of producing and could be cash flow positive by the end of 2012.

I realise I am telling you what you already know, but am simply reminding myself why I fronted up the cash.

Finally US market up strongly, so we should get some follow through buying today.