Post by
cupricity on May 21, 2020 7:01pm
What an opportunity
With so much money spent on this little mine, and the coal being coking coal grade, and the mine being a stones throw from a deepwater port it's only a matter of time before we go again. There is at least 100 million tonnes left, a resource of 450 million tonnes, and an old govt report of billions of tonnes, mostly coking coal, close to the ocean. This play is a beautiful thing for those who like a low risk play.
My hunch is that the guy from the US who needs to inspect the roof fall (which was predicted in that location, not close to the active mining) has made his plans. It won't be long. Remember, thermal coal is not doing well and every thermal coal mine will produce some coking coal. The coking coal market is going to tighten up at the same time that there will be a reduced demand for coal mining equipment. Win Win.
It was cheap at 46 cents.
Comment by
MikPrecious on Jun 08, 2020 4:26am
The kettle is hot with this management. They are not idle and they are always cooking. The donkin project was moving toward metallurgy coal for steal which is such a higher premium than just thermal. Very undervalued currently. Keep in mind under care and maintenance is a great sign of their interest of sort. The key Morien bodes really well.