I saw the scoping study and thought this must be taking off, but after reading it I see why it hasnt re-rated...
Key points in my mind to overcome:
The two scenarios different rates show the cost of depth of the coal, open pit compared to underground they need to have 4x the product in a "variety" of markets to make it feasible?
Now the above statement contains a lot of assumptions on my behalf.
However, even considering doing an underground operation is a bad sign for this resource/company.. especially with the coal price falling lately. Not to mention, BMA recently closed one of its export thermal mines in QLD for the exact same reason (see "http://www.abc.net.au/news/2012-04-11/bma-stops-production-at-central-qld-mine/3944208" for details)
Definetely need more information before I consider investing here.
NMR Price at posting:
3.9¢ Sentiment: None Disclosure: Not Held
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