any concern about the half yearly statements/, page-22

Wow!!
This is a great thread guys & gals. A good honest evaluation from 2 completely different perspectives (Duke & Spuza)

Spuza speaks of the raw value of the coal in the ground & Duke speaks of the fact that there is a lot of water to go under the bridge to realise this value.

They are both right!

We will all be able to have a retrospective view on AFR, in say, 5 years and if the stock price is $7 or AFR has been taken over for a healthy sum they will both still be right!

Personally I believe the speculative nature of the stock has diminished immensely in recent months and it is at or near its final 'lower, low" cycle. (for the TA's out there)

I think Scorpio's balanced view and learned knowledge of AFR pretty much sums it up beautifully. If you have the right management and a great resource, management will simply just make it happen!

P.S my sentiment is 'long term buy' but I will take a healthy (per tonne) offer in this market. Especially if they can get their hands on the surrounding tenements :-)
Good luck to all.