clr - roadshow wrap, page-3

New to this thread and is the first investment in a coal explorer for me.
Putting aside the general market weakness past several months, takeover talk etc what are the catalysts/ risk for this stock.
As I see it Coal Quality is the risk and a catalyst may be a JORC update in 2 weeks + confirmation of coal quality a few months thereafter.
Pardon my ignorance but would welcome comment from experienced coal company investors validating or educating me. Is coal quality the bigger issue (ie) importance outways JORC upgrade?