opposing force?, page-4

Banksy88,

I have spoken to some people in the coal industry about this and they pretty much confirmed what I suspected when I first read this article about 3 weeks ago. The first nations groups are just posturing in order to get a bigger payout to go away. A friend of mine actually spoke to Chief Makinaw himself and he said he was pretty sure an understanding would be reached.

If this was a real threat we would be trading at about $0.05 right now. The whole area is full of coal mines. I'm sure they all had to payout some first nations groups too.

Right now as I stated before, the driving force for us and any other coal company will be the spot price of coal. I suspect we will see a comeback in coal prices by January as layoffs to coal miners in Australia is expected to reach 30,000 by years end. There are 55,000 coal mining jobs in Australia which means production cuts of up to 55%. So far this year, the job cuts are up to 11,000. I do feel bad for all the jobs lost but in order for coal prices and the coal industry to move forward, we need to see a production cut from Australia as analysts suspect Australian over production is the cause for the saturated coal market.

Just have to sit back and watch this unfold is my guess.

GLTA

JGo