Sambo no-one knows is the answer.ZYL is absolutely a standout...

Sambo no-one knows is the answer.

ZYL is absolutely a standout for mine, but so many others are vastly oversold too.

Even if EU things are solved tomorrow it will take a while for $ to flow down to our end of the market.

That said there aren't too many cashed up (we're pretty sure) near-term (we're pretty sure) coal producers.

And we have news due any day. BFS, Mbila drilling, anything could be happening with Kangwane (drilling, offtake deals). And while the market is in the doldrums traders will always be looking for the next big thing.

Coal's turn may come again soon IMO. The big play here, IMO, is still what happens if/when we get one solid offer on the table (which won't come before the BFS, but it's likely to come quickly after if it's coming). I think the likes of Xstrata etc might start to wonder if they can do without the supply we can offer. Especially if it's a bid from a competitor.

Or they wait until this time next year when we are actually producing and they pay a significant premium.

I rate this stock as a "strategic hold". We say how quickly it will get to 18 and beyond when the time is right.

It's getting a tighter register by the day, so I don't believe it will be the usual massive overhead once the brakes come off. Surely all the non-believers are out by now....

I know that's no answer but it's the best one I can give.