1/2 yearly out monday, page-14

re: time for a bounce Bello,
Forget Xstrata, a couple of guys that i started my mining career with who are now senior execs with Xstrata have said they are not interested in CEY sighting too much debt poor quality assets and low returns on long term contracts they should know as they were with Powercoal for 20 years before jumping ship and looked at the original sale from the government. I really believe the big beneficiaries of this market have been and will continue to be the exporters and mainly the coke producers because if the price of oil and gas drops so thermal coal looses its price advantage. True CEY has Tahmoor but its still a high cost operation and as is now dawning on the market CEY is no better at managing those than any one else should hard prices drop significantly than CEY s plan looks decided shakey. Also as seen in Newstans case should mother nature throw up something at Tahmoor than CEYs full year is going to look very poor in deed.
Cheers roidz