The investment in Malabar Resources is a great development as far as i am concerned. I have read a lot about Malabar, and they are a fully approved site (extremely valuable in the current environment where approvals take decades, if they are ever approved), just around the corner from Bengalla, and should be operational within 18 months. They are owned and managed by industry veterans - mainly former WHC executives. My understanding is that the resource is of the highest quality. It also owns existing infrastructure from an old Anglo-American above ground mine, and has excellent rail access to the Port of Newcastle, from a rail siding on site.
More info can be seen on their website here (well worth a read):
Malabar Resources.
There is significant upside in this investment which the market does not appreciate, at the expense of only 2 weeks current cash generation ($95 million).
Another smart use of capital by NHC who have a great track record of capital allocation.
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