Berenice is a poor quality "coking coal" project with terrible...

Berenice is a poor quality "coking coal" project with terrible yields and any claims they will sell a thermal middlings at >30% ash is just spruiking to the stupid. Look at CZA as an analog - a overpromoted heap of rubbish headed for administration and oblivion in 2013 IMHO. The Soutpansberg is a geologically difficult area, mining isnt easy or cheap, washing yields are just awful, and the logistics is a long, expensive and inefficient supply chain to ship in small sized ships from maputo. Berenice is a dog. Kangala is a good local power station coal and Roodekop's details so far are just confusing.

RAC is a small but good quality anthracite asset - if you go back to the early days of Riversdale they showed it wasnt ever going to be large but had good quality coal and was in a good location.