Postives and Negatives negatives of this announcement:
1. Expect a short term sell off- how low depends on how silly people are, and they can be rather silly.
2. Xstrata leaving hurts because they have a lot of experts in this field and are good at developing mines.
positives
1. If another company came in that was all local it would mean reduced resistance to the mine.
2. It means that the ns gov't is more likely to allow NSP to burn our coal because they need the jobs.
3. It means that maybe we can get someone more focused on the project, which is permitted for 800,000 tonnes right now.
Against a Macro Backdrop:
1. As bad as it was in 2009.
2. China reaccelerating.
3. Brazil needing met coal to develop it's steel industry.
Anyways the fear in my gut is there which means time to hold on or buy. Greed left a long time ago!