good news, page-4

I find your post interesting.

Firstly they do mention a timeline and have made very proactive steps very recently:

"The Company expects final capital and
operating cost estimates to be settled within the first quarter of 2009 pursuant to the
conclusion of a competitive bid process for mining and infrastructure contracts."

"The Company has recently engaged a number of international and local Indonesian consulting
firms to undertake the following resource and infrastructure studies.."

"In order to advance the development of this project, the Company is pleased to confirm that it
has established local offices in Jakarta and Berau (Indonesia) together with 3 local support
staff."


Secondly / Money:

"The Company may also seek, in conjunction with such offtake agreements, project financing for the whole or part of the capital costs involved in mine development. The Company is currently in discussions with various parties to secure firm coal offtake agreements and is also discussing various project financing options."
"At this stage the Company estimates that total capital required to develop a 3Mtpa mining
operation (using contract mining) is not expected to exceed US$30 million. "

I didn't read that they were doing a cap raising! Can you let me know if I missed it. They have 75million in the bank so can move on it without a cap raising. They are obviously not wanting to spend all their money without lining up customers. Plus no-one knows how long the financial crsisi will last. They recently did a cap raising with Gallagher which is why we have money anyway...

Third Point: Everyone whose held mining stocks over the last year is at a tax loss! SRK is not trading at the percentage losses that alot of Aussie miners elsewhere are. Look at MGX, SDL, MNR etc... Look at some other charts before you start blaming SRK for your paper losses. Greed + Fear = Patience