We have been over his ad nauseum but here goes again in summary...

We have been over his ad nauseum but here goes again in summary

Spot prices are no reflection of long term trends. Indeed the restriction on volumes traded that is causing the spike also means the spike is only represented by very small volumes. Indeed a large lump of the volume is paper driven and not physical cargos. The spike is just not relevant to forward projections of the underlying project. It may be wonderful for day traders relying on sentiment in a share but why not trade the coking coal paper directly. Just an idle thought it certainly allows access to the volatility of the market without underlying project risk.

Having said that the prices quoted are for a tiny segment of the seaborne market that is the premium hard coking coal. There is nothing that has been disclosed by the company that supports this coal from cka if it ever enters any market would be traded as a premium hard coking coal.

Under the very clear info 214 guidelines there is no reasonable basis for the forward looking statements such as costs, revenue or npv

Any suchnstatements should clearly be identified as aspirational rather than forward looking. If you don't believe me read info214. http://asic.gov.au/regulatory-resou...ing-and-resources-forward-looking-statements/