good news

Some haven't been too kind about management recently, however I think they're doing a good job of keeping the company moving forwards whilst most others are in incubation.

What they've done, perhaps in a round about way with world financial crisis and Gallagher, is get us financially viable moving forwards.

They've secured a great coal project with both easily mined outcrops at a decent size to get projects rolling and the further potential to become very much larger than indicated at present. BHP yesterday reiterated that coal demand will always be strong and not wain. Developing the coal makes the most sense to me and is being done, as per the announcement today, in a proactive way. Obviously wanting exploit the mines potential perhaps at a lower profit margin, but the point is making good money when other projects are moving slowly.

They have a financial model for larger projects in Peru which was always going to be dependent on external finance due to its size. This was always known. In the current climate they would be stupid to invest our money into it when more will be needed for completion. Secondly the D+C case should be dealt with soon and why would you promote the resource they are fighting over at this stage? Peru is the big picture and perhaps with an offtake agreement in coal we will be developing it in stages as per the plan, before the crisis.

I think its a good buy and got more yesterday.
DYOR of course.