whc will ship 2mt in 2010, page-8

BOT I think you are being totally unrealistic in your estimates of what is possible in this environment. Seriously, you need to have a look at what is actually being produced by Australian coal exporters.

Have a look at the REY broker report link attached page 8 for a review of REY peers and their actual production

http://www.reyresources.com/IRM/Company/ShowPage.aspx?CPID=1123&EID=10000000&PageName=Veritas Securities Limited

I know its a bit old but it puts things in perspective.

FMG was a product of its time all things considered it was a one off when debt was cheap and IO was king and good luck to them as their timing was perfect.

If REY get a 2-4MT pa operation up and running in the next 3-4 years then you will no doubt get a 10 bagger out of your investment. If they get a 20MT operation going by 2017-18 then you will get a 30 bagger. Tell me where else u can get those returns its a risk reward game here which if it plays out we will all be happy. Its just were not very happy right now.

Small steps for different times sp is picking up today a deal was done good reason to smile.