galilee capex 4times springsure 4 similar prod

Guys,

Springsure creek is a superior project in terms of returns IMO - from memory springsure requires 1billion in development CAPEX, whilst Galilee requires 4billion+ , so since its 50/50 JV , BND will have to cough up 2billion bucks+ to get it started! Where on earth are we gonna raise that kinda cash in these types of markets??

Springsure Creek is the goer - we can do a debt/equity raising to get 1 billion when msrkets stabilize and the euro zone undergoes what it needs to endure

Springsure to produce 11mtpa vs galilee 15mtpa; CAPEX 1bill vs 4 bill; Costs of production from memory are not too dissmilar

Springsure has WICEt allocation locked in PLUS rail solution vs Galilee no port and no real rail solution

FORGET Galilee......it was never gonna happen with such a large CAPEX bill!

BND should SELL galilee and use the funds to set up SPRINGSURE for a quarter of the CAPEX!

DINGO WEST is the easiest option , very little CAPEX and will provide solid cashflows for coking coal; Once thats up n running well have to wait till the markets get better and then do a CAP RAISING for Springsure Creek development

Dingo will be first up and runninf IMO; In a cpla years theyll get Springsure underway; Galilee will most likely be SOLD

A cpla years period with dingo underway and we have solid cash flows for the higher priced coking coal

All in small steps and in good time, but i never thought that Galilee wld ever get in prod with the MASSIVE CAPEX BILL; Dont forget theres also the ONGOING CAPEX thst needs to be accounted for! NOt just the developement CAPEX!!!!!

think abt it LOGICALLY , Galilee is waaaaaay too big a project for BND even with a JV partner! Springsure is also a BIG project capex wise for such a small company, BUT, its acheivable if done right IMO when markets turn or if we get a JV partner for Springsure its definately acheivable

Why set up galilee for 400% more CAPEX and produce only 30% more at similar costs???!!!

It was never gonna happen if u LOGICALL think about it: BND management had to make a decision: either develop Springsure or Galilee, but its IMPOSSIBLE to develop both IMO, unless markets are roaring ala 2005/6/7, and even then both projects for such a company wouldve been a handful and risky.

Springsure was always the first option along with dingo thats why they invested in WICET.

So yesterdays announcement was just a GREAt buying opportunity!!!

NOthings changed, who here was actually seriously thinking theyd choose galilee over springsure?? 4billion CAPEX+? Gimme a break! Was never gonna happen boys...