cok comparison with bnd, page-9

Dont forget Glencore is saying not on at Wandoan if they get Xstrata and its a big if at the moment, just one of the many factors plaguing CC at the moment. Article below

Even so IMO CC will make it through, just needs some good press and it will pop

Also china came out today saying its coal stockpiles are up
http://www.coalguru.com/coal_stocks_soar_in_main_producing_provinces/2074


Australian Financial Review [25/7/12]:

Surat Basin-focussed miners like Stanmore Coal and Cockatoo Coal, and services companies like Sedgman could suffer a blow if Glencore gets its way at Xstrata's Wandoan thermal coal project in Queensland.

Xstrata completed a revew of Wandoan on Monday and says not much has changed in the long-term outlook despite challenges in the thermal market. Given it will take four years to build the $5 billion project, Xstrata can probably afford to be committed, particularly with the complex state approvals process.

Wandoan is slated to produce about 22 million tonnes of thermal coal and is by far the largest single project under consideration in the Surat Basin. It's the only project big enough to underpin its $1 billion investment in the 214-kilometre "missing-link" rail that would connect the region with the Wiggins Island coal export terinal.

But with thermal coal producer margins already strained and others, including Rio Tinto, curtailing operations, it appears Xstrata suitor Glencore is becoming less gung-ho about Wandoan.

Sources say Glencore boss Ivan Glasenberg hinted strongly that funds wouldn't be sanctioned in the event the Glencore-Xstrata deal is done.

Sedgman would be a key loser given its is contracted to Wandoan, but Goldman Sachs says the services company's near-term profile is filled with more robust-seeming coking coal projects anyway.

The broker ranks the Eagle Downs project as the most shaky among the four that are slated as most likely to happen, but it says if the project does not proceed it could be replaced by one of the 51 other projects included in Sedgman's one-year $2.7 billion pipeline.