I'd like to buy some more, but this is already a big chunk of my...

I'd like to buy some more, but this is already a big chunk of my portfolio thanks to continual averaging in, and my cash position is far lower than it should be for the type of market we have. I'd suspect BND is on the radar of a few Chinese and indeed Indian companies. It presents an opportunity for them at a cheap price to secure long term coal supply which would be available in the near term. The Chinese especially have shown they value agricultural and mining projects in Aus at a premium than our market does over and over again.

T, i'd suggest now is as good a time as any. Thermal coal prices have been range bound for a while, suggesting to me they are probably below or near the MC of production.