Pommy - Beattie will take the jobs and the cash that come with U mining. He made a political play to force the 'strong' coal unions into a position by getting a report that says U mining will not adversely affect coal mining in Q.
He is a shrewd dude. Very politically savvy.
He will prevail on the side of success ......... and success will not be to do nothing and get nothing.
You're saying you're looking at a fair entry point for risk versus reward prior to ALP conference. I suggest you saw it yesterday!
Today's action starts to alert smart money that Q is over the line with U mining.
Sure, there is a little risk here. You're looking at a retrace to $5.20 - about 10% .... against an upside of 20% IMO.
I have stated this story before but it's a cracker and worth telling again .......... when I was considering buying an investment property a few years ago I was procrastinating. I asked a smart mate who knew how to make money out of nothing. He told me "you can't make money out of real estate if you don't own any!" I bought - I prospered.
I suggest you think about it seriously. If the risk is too great for your investment profile - no sweat - go buy BKN - it's been a beautiful INVESTMENT with very low risk. (not advice - just suggestion!)
This is the speccie end of my portfolio and that is where I am making most of my money currently so BRING IT ON! I say!
cheers
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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