The company has 60Mt identified coking coal resources, and it has scope to increase this. It has negotiated access to a coal loading facility, and is well-set to find a coal buyer who is willing to finance development of the project. This looks like very good exposure to the coal market at a time when we are destined to see:
1. Stronger demand for coal
2. Price recovery
3. Return of interest to resource stocks
4. Governments commitment to end carbon tax, Mineral Resource Rent Tax
Ideally, I might prefer a thermal coal stock, but I suspect they are capable of producing a thermal product as well. You can view the company's latest presentation here. Technically this stock appears ready to break-out of their long downtrend. I suspect that the motivation for that break will be an updated resource calculation, or perhaps an announcement of a farm-in partner. I'm looking for a break above 1.5c.
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