Great finds Teddyward. It is not hard to read between the lines...

Great finds Teddyward. It is not hard to read between the lines on the Planning Commission news - the NSW govt is on the back foot with slow economic growth and would be pulling out all stops to aid companies. I am guessing there has been a bit of weight-leaning on the regulatory agencies to get off their high horses and help companies with permits. I am sure GNM management would have pointed out that after the Carbon Tax they are going to need a helpful govt if they are to keep their business running in good health. AKJ is a smart cookie - he has been doing good works in the Illawara region sponsoring local teams and such and GNM has a bit of goodwill with the locals. Anyway it is good to see the agencies being helpful rather than a hindrance and hopefully without cutting any corners. I believe the longwall will start humming as claimed.

Longwall or no longwall,the bigger problem is that GNM is likely to report a big fall in profits this FY, the reasons being disruption of business due to longwall and other developmental work, fall in coke prices after QLD resumed supplies and increased project and interest expenses.

I think it is likely the SP will fall further or at least languish at current levels for a few months. This is a long term investment - 2-3 year horizon, not for the impatient.