I agree with almost all of your post except for the part about selling on the announcement. Yes there will be an announcement soon as foreshadowed at the last AGM. Unfortunately heavy rain set in early December at Broughton, adjoining the RIO Hail Creek mine. Then Xmas holidays for the drilling team and now Cyclone Kerry. The company knows it has a world class coking coal project on its hands both here and in coal starved New Zealand and they are doing their evaluation of the drilling results properly. A JORC test, the international standard for a banjable feasibility study.
The same in New Zealand and the management team are chomping at the bit to get going with these two coal prospects and develop them to production, hopefully within two years.
Coking coal is the flavour of the month ATM and the management team have proved their expertise by developing the Foxleigh coal mine to be a large producer in less than two years.
Yes, I hold quite o few ECU shares and options, having been accumulating them since January 2003 at 1.8 cents. They doubled in value in the first twelve months, then doubled again the next year, and the management and I believe we will see a massive spike in the share price over the next few years. This is an opportunity to get on board an emerging coal miner at penny prices.
ECU Price at posting:
0.0¢ Sentiment: None Disclosure: Held
