This is why I sold 5m shares on Friday, even though it drove the...

This is why I sold 5m shares on Friday, even though it drove the price down, and no I am not a Hong Kong investor that needed the money, as someone speculated on Friday. I am a simple retail investor who has plenty of contacts in the mining sector and I heard on Thursday evening that everyone in Clermont is laughing about how silly TER have been at Blair Athol. I've lost money on TER but I would rather do that now than have my shares being worthless.

They haven't announced how far the nearby TLO (train load out) is but I can't see how TER can make a profit by road-trucking coal as far as I imagine it will have to go. I have also been involved in constructing a few TLOs and plenty of brownfields mine civil works and the odd greenfield development. I can't see how they have ANY confidence in being able to have a TLO constructed within 6-9 months. If I had to have a wild guess, I would say they could probably get the rail line in and commissioned within 12 months (depending on site particulars) and then load with a front end loader (the way coal was first loaded at Copabella) but even that will have lower margins.

They should have had Aurizon in discussions the day they announced they were acquiring Blair Athol and signed up to a contract the day the ML was transferred.

Even then, they haven't told us how they are going to repay their debts or where they are going to get the capital to pay Aurizon - all the while investigating a new mine in Indonesia!

This lack of disclosure is VERY frustrating so I'm glad to be out. GLTAH! and DYOR!