Ann: Atrum Coal Secures Port Capacity for 1.5Bt G, page-42

re: Ann: Atrum Coal Secures Port Capacity for... Denial,

The coal price used was very conservative. Anthracite is a very rare type of coal which has a high carbon content and is very hard (the hardness makes it ideal for use in steelmaking and electric arc furnaces). It is far superior to coking coal and not comparable to thermal coal, which is used exclusively for electricity generation.

Current coal prices vary between $70t (for low calorific value thermal coal) to upwards of $400 (for the highest carbon content anthracite lumps). On the whole, the coal prices highlighted in the scoping study are on the low side and ATU will likely realize higher prices than this.

As for the price action today, I suspect it was more of the same - retail selling, insto buying. If you look at the changes on the register over the past month, you can see a lot of selling at comsec, westpac, etrade etc and some substantial buying from institutional holders. The funny part about it all is that the guys who have been selling today will be the same muppets who buy back into the stock at $1.30 in a couple of weeks.