The answer would seem to be yes. In my view the share price will go nowhere much up or down in the next 18 months. Currently, this is a definite bottom drawer shareholding.
If you look at the presentations you will see the company sets out a bit of a guide to indicate expected progress steps being taken. Of course it is a guide only but from that you can see the general timeframe.
The management seem to have the coal industry credibility needed and a big backer in Sprint Capital onside. 2015 should see some real movement towards producing rather than developing/exploring.
The rail link to port is a big issue. Look at FMG and AGO to see you can have the resource but like the nursery rhyme, piggy must get to the market. The other issue is the coal price, but at the current stage of development it means little to the company in the expectation that the price fluctuates over cycles.
Frankly, this is a keeper for a fair while with little to no excitement about.
SMR Price at posting:
14.0¢ Sentiment: LT Buy Disclosure: Held
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