I listened to a presentation by the MD last Friday. I have known...

I listened to a presentation by the MD last Friday. I have known Kevin since he was a senior guy at MPIU Mines which was eventually taken over. His background has been in mining and finance - from memory he worked at Merrills in New York years ago before coming back to oz to run mining companies. Honest guy and sharp as paint.
The coal assets are very good. 125 miles from Derby with coal seams near the surface is very attractive. The Indians have a major stake in the company. Watch this one. I bought last week and again this morning. Significantly undervalued and will end up mid 40's by Feb. Huge coal resource very likely.
watch this space for some real action. If shares hold above 20c in near future, then oppies (49M @20c expiring end of December) could be exercised which would bring in $10M.
If shares are 20C fully diluted mcap would be $26M with $10M in the bank. Given the coal potential and the copper assets offshore, then this baby could give some very nice returns. It is the coal equivalent of Talisman (Iron Ore).
buy and hold
cheers
omg