You have to look at this stock as a LONG term prospect.Lets look...

You have to look at this stock as a LONG term prospect.

Lets look at the Pros & Cons

Cons
They are having many delays (some avoidable, some not).
The whole hydro-mining is obviously not working as well as they thought it would.
Very little coal has actually been shipped so far.
The SP is very low at the moment.

Pros
The main one is that they have at least 20 years worth of top quality coking coal production in a world with ever diminishing supplies.
The price of coking coal is going up.
The "supply-line" (from mine to the ship) has been tested with 2 shipments and works.
Hopefully, they are gaining more & more experience every day.

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IMHO I don't think that the PRC SP is going to go through the roof in the very near future. We will be lucky if the options are "in the money" by April next year.

But as a long-term share I believe it has excellent prospects.

The PRC shares I have are in my super, I am hoping that in about 10 years time when I really need the money, PRC will be in full production and be paying good dividends.