The existing coal is not profitable even if being dug up next to the port. $40,000,000 at 20 cents per share.....do the maths on that dilution. (They currently have approx 170 million shares on issue) Even if they could rail 20 million tons a year they already have centuries worth of coal within existing tenements. So no real point increasing the volume of coal? The only reaon they would be doing this is if they thought the coal within the Idalia tenements was of a higher quality. To me this is an admission that the existing coal is not commercial on current and foreseeable markets. I'd like ot hear more about what other assets Idalia has for us in this deal before i re-enter.
EER Price at posting:
15.0¢ Sentiment: Hold Disclosure: Not Held
