JAL is excited, JAL shareholders are excited, BRL? well having access to 27.2 million tonnes of hard coking coal at very attractive economics ($75 per tone cost, IRR of 40% etc) is a non event to Mr Market - as emphasized by a near flat share price since the initial announcement.
The share price isn't the only thing that's 'dragging', we still haven't heard about that court case.
Frustrating is the best word to use at this point in time.
BRL Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
