We all know the negatives of the announcement and I've posted my negatives above.
Now for some positives.. 1. CEO has a thick hard coal seam starting from surface - how many companies can say that ?
2. Most of the holes that were drilled were probably looking for the boundaries and were possibly just outside of them.
3. The 5th hole - whether it is part of the same coal sequence or not indicates there's coal and a nice seam some 6 kms away ! .. so more coal in the tenements.
Thick near surface seams have been demonstrated to exist in various parts of the tenement area - we have a chance to find something big one way or the other.
Something positive to allay the nerves.
CEO Price at posting:
9.8¢ Sentiment: Hold Disclosure: Held