moviedancer...I am very concerned that Xstrata will not proceed...

moviedancer...I am very concerned that Xstrata will not proceed with Wandoan.

Now that Glencore is running the show, Coal Greenfield projects will not be on their agenda.

Had Glencore failed in their merger attempt, then Xstrata would have proceeded.

Surat Basin Rail needs project clarity, right it has zero.

Who will step into Xstrata's shoes if they do walk?

Metro's (MTE) China connections is the probable answer, but the SP will get hammered all the same if Xstrata walks.

The upside imo will be 25mtpa of Thermal will not come on line, which will impact thermal supply, so that will be good for the thermal price.

Downside, who of the juniors will survive that were going to piggyback on Xstrata's Wandoan development.

Hence why I hedged with BND as they would benefit by not having another 25mtpa going to market.