todays west, page-16

"Queensland Gas Company boss Richard Cottee yesterday giving his strongest indication yet that the company's coal asset could be sold to the Queensland billionaire."

Hi Ruskie,

I knew that there would have had to be something big in it for him to withdraw from what he was doing. And the Board and Cottee knew that, if they didn't bend over, Palmer would have dragged them through the Courts and even succeeding in getting a Court order that the meeting on the 22nd of June be cancelled starting a new ball game. Cottee is a Lawyer and he knew that, and the ramifications therein.

People here think that the coal is not worth much, but let me assure you that coal is worth a hell of a lot of money and it isn't going to be brought up to surface in the near future either. There is another move by some big billionaire to do a takeover of whitehaven coal now, and it isn't going to stop there either.
Coal, unlike oil and gas, has been used for hundreds and hundreds of years, and it will continue to be used for thousands of years more until it will reach depletion stage.
While the oil and gas will immediatley supply the short term need of the world for energy, both of those haven't got a very long life span. Any LNG plants that are currently being built they normally have being planned with a life span of about 20 years, and they require/demand a huge amount of gas to supply their needs. But what is going to happen after the gas has run it's life? Everyone here should eb able to see that there has been a scramble to try and secure short term supplies.

A band aid soultion if you ask me, and a short term vision/view for some companies, and investors.

The coal reserves we have and the coal we could mine from them, (from what I have read) can supply the world demand/needs for hundreds of years to come.

As such, and the way I see it, the coal tenements that we have can fulfill that part extremely well. Hence why Palmer wants it, and I feel quite sure that the Chinese will have a finger in the pie with that as well. India is another nation that is screaming for coal, and it is evident with the large tracts of coal prospects they are trying to get in in QLD. If I am right, they are even going to bring their own fly in fly out labour from India while our labour is left hanging out to dry.

IMHO, take it as you wish, while the oil and gas is good for a quick return, coal, in the long term, is far more better for us all. And it is far less costlier and easier to be sold. Just bring it up and sell it. No treatment costs, nothing. One mights now say there is the freight costs, but everything else has to include freight, and that is all incorporated into the price of coal at the selling point.

IMHO,our coal tenements could be worth trillions and trillions of dollars at some stage or another. And The Chinese (with Palmer of course) knows that. If he will end up with that, Palmer is the one that will be laughing his head off all the way to the Bank. And the Chinese with their demands for it, will make sure of that.

Even around the New England area there are Coalmines popping up everywhere, and the Chinese have a finger in the pie with many of them as well. And, most importantly though, while they are willing and ready to sign offtake agreements with LNG supply, they are are more intent to be owning the coalmines instead. NOW, HERE IS THE $64K DOLLARS QUESTION FOR THE ONES WILLING TO ANSWER IT...WHY??

But, in the meantime Palmer has got what he wanted in the first place and the reasons he came in for, and he shafted JH in the process while doing it.

Ethics in the Business World?? What's that lol!!! There is none of it. That's for sure.

Cheers.