Something to keep in mind before selling The Company currently has 10 continuous miners on site, of which 4 are operating. Reaching the
3.0 mtpy run rate requires having 10 continuous miners on site and operating. The 5th/6th continuous
miners are now expected to be deployed in the 2nd week of March, with the 7th/8th in May, and the 9th/10th
in June. Each pair of continuous miners is part of a ‘supersection’, with each supersection having an
annual production capacity of 600k tons of clean coal.
Longwall Evaluation – The Company is evaluating an expansion of the mine capacity to 7.0 million
tons of saleable coal per year (slightly lowered from 7.2 mtpa, but still higher than 6.0 mtpa
contemplated previously) through the addition of a longwall mining system. The feasibility study is
expected during H2/12. The system could be in operation as soon as 2014.
I am down big time on this play but I will hold out for the big pay day which unfortunately is still a long ways away.
Patience is really a virtue.