Best off waiting for a solid base to form and some volume to...

Best off waiting for a solid base to form and some volume to return IMO, this one is like trying to catch a falling knife atm.

As previously mentioned coal prices are continuing to fall (although still historically high) with weaker demand. Sentiment is also very poor with the carbon tax about to land.

Capital markets are also becoming harder to tap and JV more difficult to secure (COK). Last time I checked a modern day longwall cost around ~300 million. Thats just the face equipment. Maybe around 5-800 million all up including surface facilities and camp +1 billion if poorly managed. Then need rail & port allocation etc etc. So yeah some serious CAPEX required.

Located in the GM seam which is premium hard coking coal and latest testing confirms high quality. Catch is the GM seam is also notoriously difficult to mine, this I know from personal experience.

Will keep on watchlist for now. GLTA.