re: Ann: Chairman's Address to Annual Gen... Here are a couple...

re: Ann: Chairman's Address to Annual Gen... Here are a couple of recent events that I think potentially support the directors view on bnds undervalued status

-Macquarie has an out perform on whitehaven and a target price of 3$, which is a significant premium to today's closing price.
- China is moving fwd with plans to place restrictions on low quality coal
- Japan plans to depend on coal for a larger supply of its power.
- The qld gov is pushing the development of the Gailee Basin, where bnd has a potential mine site
- the price of thermal coal is stabilizing
- bnd directors are increasing their holdings (mg accepted to take performance based shares instead of cash on the condition he would stay until mid 2014. John Pegler bought 200,000 shares on market on 18 Oct)

Unfortunately, trading remains at low levels bogging bnd down. Since the eis approval, there have been no clear signs of bnd driving strongly higher. Hopefully, one of the above factors or more updates on funding, revised fs or mining leases approval will come but I feel the waiting will continue for a little while yet.