Ann: MCC Increase in Coal Resources , page-3

MCC is one of a few AUS miners with very sound fundamentals and growing earnings AND reserves. Earnings and dividends grew ~ 800% (!) in the last 10 years, no debt, quite some free cash. Share dilution only ~ 7% pa in those 10 years.

And MCC is also a potential takeover target (vide recent WHC saga).

All recent good news (incl 38% res upgrade) shall eventually push the price up. But MCC has historically been prone to overall market sentiment so, as always, because the whole market is in a down trend now, MCC might fall with it.

I hold some MCC but only very moderate amount because the So recent (past mid Feb 2011) market trend reversal.
So eventual SP rise might be delayed and-or slow and with quite some bumps.

We shall also remember that more and more coal mines in Asia are being closed as the coal is deeper and deeper (600m and more) and harder to get. QLD (and MCC's) coal is not.

VectorVest values MCC at $15.50 (2 months ago they valued it at $16.50).

So I think that we shall be careful with MCC but optimistic and ready to increase the holdings at first stable signs of stock trend change. There is probably no huge amount of MCC's SP appreciation in the future but if it goes to $15 level in few months I would not be surprised.