I am guessing the market is digesting the BHP news on the...

I am guessing the market is digesting the BHP news on the indefinite closure of Norwich Park which is in the Bowen Basin and what impact it would have on Carabella's Grosvernor West holdings.

You can see from the below map that Norwich hill lies SW of Dysart and is much further south of the Goonyella BHP mine.

Goonyella has a Measured Resource of 524 MT, whilst Norwich Park has 223 MT.

It is of my opinion that BHP would not close both mines however if they did I wonder what impact closing Goonyella would have on Carabella??
On the flip side they may even decide to ramp up Goonyella which could have positive impact.

The trading pattern remains the same, aggressive sell down in the first half hour (which were stopped by large bids which never got filled!!?) It bothers me that BHP can close a mine and not make announcement to the market. Juniors like CLR are impacted indirectly and the ASX need to looks into the reporting requirements of some of these larger companies. (they may have announced somehting, but i cant find it.)

http://www.smh.com.au/business/bhp-announces-qld-mine-closure-20120411-1wpsk.html#ixzz1rl0pnQX1

''As a result, we have had to take urgent steps to both stop the losses and find the best way to secure the operation's longer term future. Importantly, this decision on Norwich Park Mine is not reflective of the broader quality of our world class Queensland Coal operations."

Rambleon