did paul take us for a funny ride, page-2

Hi Ozizi,

The rumour that I heard that made me put AQC on the watchlist is that they have interest from overseas end users. This could mean a lot of things ranging from a offtake,private placement, JV, asset sale or some kind of farm in agreement.

Also AQC was very volatile so I saw it as a good term trading stock but to date I have not traded it.

"did Paul take us for a funny ride" can you clarify this? What is the rumour on your side? I did call the company and managed to talk to Paul and the story I got was that "this is the cheapest coal play in Australia" and "we are getting a lot of interest from overseas parties" ... to be honest I saw this as more than a common user car salesman pitch. I did ask about a placement but he only said there are multiple options on the table that they are looking at. Well to be honest unless a overseas end user goes into a JV with AQC and inject money for the company, the only thing that AQC can do is raise money by a placement.

Paul spoke about how they are close to McCarthur, Rio Tinto, Bandanna and Aquila but I don't really care. To date the company has done minimal work on the ground and advertising your location can only last so long before people get sick of it and move on.