I think they got put off when they saw the repair job at the Newstans mine. Apparently the roof caved in and they had to cart a lot of the coal out by hand and then they used glue to fix up the roof. Glueeeeee!!!! It looks like snot hanging from the roof of a cave. You would think it was "Jeffro (the Beverly Hillbillies) goes coal mining." But the Managing director maintains it is state of the art mining technology, which it may well be. In any case, they say they are through that problem and others, vandalism and it is all systems go. The stock could get rerated tomorrow particularly when investors realise that the stock is more a defensive play based on mines situated close to power stations and long term 11/12 year contracts than one dependant on earning an income from export. Though they are attempting to go down that road with coking coal from the Tahmoor mine and later Anvil.
CEY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
