IMHO, the problem has been the setbacks for the starting up of...

IMHO, the problem has been the setbacks for the starting up of operations. First the vent shaft collapse, then the machine breakdowns and reduced production. Without these, you would have to say it's timing was right for the recovery.

Coal demanfd globally hasn't slowed, in fact out of Aus, it's increased, with large increases in coal export revenues, thermal and coking.

Any more bad news will sour investors having to sit on potential with nil reward. Money is better spent elsewhere in the short term until PRC proves itself. Cashflow will be another consideration - any more delays and a share issue would be needed - further eroding confidence and this would put it around 60 cents again IMO.

Otherwise they would be north of $1 by now.