looking for new high this week...eom, page-6

No connection! It's a capital raising via a bookbuild and I think it may be for $200 million or so. Not the dilution this would have caused a few months ago! I was going to apply for some @ $9 but was told that would be a waste of time. If it happens @$9.50 or above it would be a good sign as I imagine it would have gone to $10 or a little less today on such a down day.
To the dude asking whether he should buy back in. I like to ignore what I individually have done with a stock in the past as that of course holds no relevance to future performance. Each investment decision should be taken on its merits at the time of the decision.
You're looking here at probably a resource of 5 million tonnes or even a lot higher in a couple of years. At $3 a tonne that suggests a market cap of about $15 million or $75 per share in 3 years time is realistic.
Looking at it from an earnings point of view, each colliery should be making about $300 million and the number of collieries is only restricted by the transport options for the coking coal to be exported. At 3 collieries which would appear to be the limit at the moment using the rail line to Beira, that gives a PE on current market cap of about 1.5 times with a mine life of about 250 years (really!! 22.5 million tonnes X 250 years= 5.625 billion tonnes ). If they can use a barge down the Zambezi River or some other scheme (capex starts to grow to fairly big numbers at this point) the earnings potential goes right off any charts.