Hi Winenut
Coal only a Nightmare to the economy destroying activist of the world, that want to superglue them selves to the ground in protest when all else fails and wont even entertain the idea of HELE or CCUS schemes that are readily available and being put to use in other parts of the world, hopefully they follow their beliefs and go off grid and stop waking up to the luxury's of the world we are all afforded because of COAL, in all forms . Best thing that happened for Aldani was bob brown and his merry band of activists was to go protest in central QLD during the election. Maybe they can all chip in to help the $20B proposed solar farm in the NT get off the ground if they are all so hell bent on living off the grid.
$2B would build a new HELE coal powered power station and help bring down the cost of living, help reduce emissions in line with the Paris agreement, as well as create more manufacturing jobs which could only be a good thing, so basically, coal, Thermal and Metallurgical is going no where fast
The other good thing with all the negativity in Oz with the anti coal protests, is Alberta's new UCP Government which is very pro development / mining. Maybe that's why Hancock Prospecting have recently taken over Riversdale ???
Not to sure where the Anthracite part of Atu will go, but JOGMEC have spent $5M to earn a 35% share of panorama north due to 3 yrs of a farm in agreement, so they clearly see something there for the future.
Metallurgical coal, is highly sought after and the quality and quantity of Elan is significant. The Riversdale deal with Hancock also cannot be overlooked, and if HP will pay $800M approx. for a 4.5T ROM Yr,, what is Elan worth, which is 3x+ greater in size than Riversdale, and the benchmark of coking coal in the world is Peak Downs in Qld. Have a look at where Elans quality is in respect to peak Downs, and from yesterdays Announcement, the quality is getting better as we drill north so it is not unreasonable to compare Elan with Peak Downs in terms of quality.
I was at the AGM recently, and my opinion, the board is all aligned ,and almost all, if not all are invested whether its personally or options, but its in all the boards best interest to take this to the next level. There is some smart and experienced people on the board. Ty Zehir was very impressive to listen to. Its not a case of is there a market for coking coal, its which market do they want to supply to. He highlighted 4 or 5 European countries that are in need of new coke coal supply, without even touching on Korea, Japan, Taiwan, China or India.
It is also not unreasonable to think a Take over is potentially on the cards. Riversdale cannot expand south, and we share the same boarder to the North, so for them to grow !!!!!!!!!!!!!
The early days are long gone with the ex directors, but thankfully JC is still there, and never sold a share, and Phil King/Regal investing $10M recently, over the last few years the Top 20 have been pretty stable, and mostly have actually increased their holdings, a experienced and aligned board I believe the overselling and underdelivering days are long gone. Happy for the board to undersell and over deliver now
The accelerated drill programme 20,000 metres, and scoping study are, in my opinion, is going to do 2 things, accelerate the company to gaining a Mining Licence, which once in hand is a whole new ball game, and yes that could be 2.5 yrs away, but also increases Elans value considerably in the event someone comes knocking. They are trying to obtain a enormous amount of information, by combining the Mine Scoping Study / EIS information and grow the JORC recourse considerably within the next 5 to 6 months. Either way it can only be a positive for Share holders who, like me have been here for 5+ yrs
Its not about Anthracite now, but Coking coal and Elan. Groundhog and panorama are secondary, but still pose enormous value to someone, and maybe that's why JOGMEC are still there
My opinions only, but interestingly yesterday, almost 2.5 Million shares were brought in 2 buys
Someone is accumulating
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