Read the NR carefully ....Particularly:
"...The Company estimates that it may be able to obtain a prospectingpermit and conduct a drill program on a predetermined area of itsproperty by March 2009. The drill program is expected to be comprisedof several drill holes on three tracts of land within the Bakerstown,Pittsburgh and Elk Lick seams.
Following the prospectingpermits and after exploratory drilling to provide further information,the Company will evaluate its options. Assuming favorable results fromthe exploratory drilling, the Company expects that it could move intoproduction with an initial strip mining operation sometime in 2009,though this timeline will be impacted by the permitting process,weather conditions and delays, obtaining an independent technicalreport showing a mine plan, the price of coal and financial constraints..."
Correct me if I'm wrong, but what the NR says to me is that 1) they will probably get permits and conduct a drill program BEFORE March 2009 ... and 2) After that, it could move into production....
So, if you watch Charles' interview, he says they may be into production by end of 1st quarter (as far as I recall, i did not watch it again, but you can double check), end of 1st quarter is end of March!! The time lines in the recent NR make sense.
If my interpretation of the NR is correct, that would mean likely 1) we will get an NR on getting the prospecting permits 2) an NR on the drill program starting 3) results and 4), if all goes well, then NR on production.
If my spec is right, that would probably mean, if the markets are good, including coal price, a nice jump ins/p on each NR...
For all those who think the s/p won't move until summer .... don't get caught .... I'm hoping, and thinking, you guys might be wrong ... Good luck everyone.