Id expect another capital raising or two will be required before...

Id expect another capital raising or two will be required before this stock gets to the 'right side' of the baralaba expansion - with 3.5mt capacity in place and money spent - and a rising coal price.

so my approach is to maintain a (v) light exposure but keep money aside against a share purchase plan some time in next 12 months - as buying into a raising is probably the best way to get in at the right time and at less risk.

hcc coal price has reverted to faling after a very brief rise a few weeks back - so all the coal stocks are likely to see further softness in the sp - though whc may defy that trend on speculation its a strategic target.