It's hard to take your head out of the sand on this one!!!!...

It's hard to take your head out of the sand on this one!!!! Especially when many of us had the chance to exit at the $1.80 price...

Anyway, word on the ground in Alberta locally is that we are in for some long - protracted negotiations to clear the final statements of concern... Even if heard in September by the regulators it could be years before finalising- this is straight from the ARC

http://www.aer.ca/applications-and-notices/notices/application-1726915-hrg

Just see the notice- 20 sep is the final date for submissions of concern then a hearing date-

The Alberta Energy Regulator (AER) will hold a public hearing of Applications No. 1726915, 1726923, 1726927. The date, time, and place of the hearing will be set after submissions have been filed by all interested parties.

If the AER does not receive any submissions from persons wishing to intervene or all interveners withdraw from the proceeding, the hearing may be cancelled and the AER will continue to process and may approve the applications without a hearing.

- See more at: http://www.aer.ca/applications-and-notices/notices/application-1726915-hrg#sthash.GcJRs9Mh.dpuf

Just ring and talk to the application co-ordinator - Curtis Evans ... He is ever so helpful...

If the current submissions against the project are withdrawn then happy days---

However if not - then hold on for a very long process- as Evans quoted, this final stage can take years- especially if the filers have deep pockets- and the main ones do!!!!

Still begs the question why we are employing ex BHP- over the last 10 years the bhp team have built up a fat, lazy organisation (which they are finally cutting through now) and we are picking up their excess fat!!!

This company needs street fighters and commercially tough people with significant skin in the game - I fear we are setting up a stopgap for some execs till the market turns and the majors fatten up again!!!

Not to criticise the latest appointment, he is probably well credentialed- just not what we need. We are digging up dirt!!! Get the diggers in not the corporates and the rest will take care of itself.

(Haven't posted in a while :). ......

Head back in the sand now!!!!

Newest hurdles for coal (and ther rest of the market)
1. Syrian conflict
2. Contagition in Asia/ emerging markets
3. US debt ceiling approaching in October.
4. Another round of bailouts for Greece.
5. Shadow banking crisis in china...

Kind of makes me want to go and buy bullion, guns and a property in the outback:)

Good luck all- I hope the company pays off the right people to get rid of these statements of concern...