cancelled meeting..what a waste of money, page-5

unfortunately, the meeting was cancelled

ASF joined the forum and, after our many discussions, i have come to the suspicion that Rockwood is not much good (although it could be sold to some desperate Asian buyer)

ASF mentioned the CLR capex. after researching CLR, they have 27% raw ash coking coal but can wash it down to 10% ash, which will cost them $110/t

CLR have said their coal is in the Moranbah Coal Measures, just as EOC have said Rockwood is in the Moranbah Coal Measures

EOC washed their Rockwood coal down to 11.3% so the ash at Rockwood must be higher than CLR

MCC, who are not in the Moranbah Coal Measures & who once relinquished their title to Rockwood, wash their coal down to 9% and ideally use a 17.5% raw ash cut-off

so i think we have been fooling ourselves in believing MCC (Peabody) would be interest in Rockwood

lets see how it plays out

by my suspicion is Rockwood is a big ugly dog