being played, page-8

Freddy - nice to see you keeping the thread alive!

(By the way - This post not directed at you Freddy)

I've held since IPO and also felt deceived by the Basin project debacle a couple of years ago. I think you'll find a lot has change since then, namely

1. New share register (major holders)
2. New projects, focused only on Met coal, not thermal
3. Projects that are aiming for low production costs, which will provide profits even when coal prices are low (unlike many of the marginal projects that exist today, or have been shelved due to low commodity prices).
4. Management are performing very well - have achieved everything they have stated, and any delays are out of their control (i.e. Dunlevy permits).
5. Very good project locations with heaps of potential.


Whilst there are no certainties in life, JAL are heading in the right direction and I'm happy to hold (actually bought a few more last week).

The sour taste left from the Basin situation was more to do with people (assuming insiders) selling out whilst the rest of us were anticipating a good feasibility study outcome. The fact the project turned out not to be viable was disappointing, but that's the way the cookie crumbles some times. In fact, it's better, in my opinion, that management make an early call if a project turns out to be marginal, rather than waste our money developing a mine that loses money!!! Yes it's frustrating, but it's sensible and good management.

Nothing in recent times suggest there is anything dodgy occurring with regard to the trading around announcement times.

Anyway - that's my 2 bobs worth. I'm holding. Plenty of news flow expected in the coming months - lets hope it's all positive.

Regards

Doyle