Ann: Quarterly Activities Report , page-17

Eskom is behaving as secretive mineral resource rent tax collector on behalf of the South African Govt. so the latter can say it doesn't have mineral resource rent taxes. Eskom's pricing policy when buying off UNV says it all. I wonder if that is the reason IKW has not drawn down its debt finance because it is still arguing with Eskom about the return on investment IKW should receive - the provision of the debt finance is probably a sort of carrot - you only get the carrot if you agree to those ruinous Eskom prices that give you a very low ROI.

Thanks Sun111. It was the quality of your posts on coal that made me research FMS (your other recommendation on your tag line), and in the end I invested in that instead of these South African coal plays. It will be interesting to see which come out best!