Enough of these 'spiraling down' posts:Macros = all coal prices...

Enough of these 'spiraling down' posts:
Macros = all coal prices thermal through metallurgical have softened and the view is could continue to do so..this in particular will impact Australian producers ,certainly new boyz on the block ..the majors with trading house links can always play region against region ,regime against regime etc .

DRG specifics: ME has committed to an initial resource statement Q2 2012 [i.e. by end June] - current drilling campaign has gone better than expected IMHO, it will take a good 5 weeks to get assay results [samples well wrapped en route to labs in Australia] ..
If we have an initial resource of high quality coking coal in excess of 50Mt , we are in business -Further DRG's cost of production will be v.competitive compared to more distant producers - and this is only a small fraction of the Teeg lease -there are a further 6 licenses to be drilled, 5 of which are in a known coal province , South Gobi..
Thus everyone calm down , a bex ,some tellie, good company ,
and plenty of patience ..