chart breaking out, page-6

Yes agree not to late at all, my ideal entry would have been 10 cents but happy to pay up here, will be looking to build a possy come monday.

Great little story developing here with production soon to start.

Taken from the most recent ann,

"Kangala, situated in the Witbank coalfield in Mpumalanga province, is Universal Coal’s first operation. The mine will be a domestic thermal coal operation supplying coal primarily to Eskom. At a capital cost of A$ 46.8m, this operation is projected to supply an estimated average of A$ 15m EBITDA per annum (100%), with both costs and profit margins locked in. With an initial projected four year payback period, coal sales of 2.1Mtpa are split between 2Mtpa ESKOM and a lesser ~100ktpa ~6 000kCal coal to be supplied to the export thermal coal market via the Company’s RBCT Quattro allocation.

Operating costs will be optimised at a low A$ 15 per ton over an initial eight year life of mine at Wolvenfontein achieving an effective >80% yield on 2.4Mtpa ROM rate. The additional resource base at Kangala potentially allows for a total mine life exceeding 20 years by means of developing a series of similar sized pits adjacent to Wolvenfontein. Furthermore, there is added opportunity to increase the resource base further and extend mine life through potential JV’s over neighbouring resources.

The operation is being run on the historically proven outsource model, with Stefanutti Stocks Mining Services supplying both the mining fleet and skill set to run the initial eight year Wolvenfontein pit, operating a fleet of 60t trucks, 85t excavators and supporting equipment. The dual circuit processing facility containing a 350tph crushing and screening circuit and the 200tph DMS washing plant will be owned by the company, but the operation thereof will be outsourced to Mineral Resource Development."

So the company is forcasting a capital cost of A$ 46.8m, this operation is projected to supply an estimated average of A$ 15m EBITDA per annum (100%), with both costs and profit margins locked in.

Thats some very good profits to be had straight off the bat.

Deffenatly one to watch.