cannot break 3.50..., page-5

AiLung,

See pg 3 of Chairman's address today, the average price received for coal was down on last year, even though $US spot prices were higher and production up 25%. The forex issue is killing CEY's revenues in the near term, but in the long term I totally agree the outlook is rosy.

I'm sticking with my call, low to mid $3 range until middle of next year. When the U.S. starts to drag itself out of recession, interest rates there will rise and the $AUD will drop - should be happening by end of 2010. If CEY breaks down below $3 I'm likely to top up - this is a well run company, just that it is suffering a bit like most exporters

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