Ajax. The last storm saw RIV hit $12. Coal is in a storm as the majors hold back production to strengthen the price. This is actually good news for riv of course. No major new supply will hit the markets for some time and demand is growing out of China etc. RIV will break $7.40 some time after xmas and then your $9 target will loom large. I think RIV is the cheapest listed coal stock in Australia and potentially holds the largest undeveloped coal areas in the world [management have said so]. I look forward to the day when the penny drops. If GCL is about to eaten up by Mac coal, then that's 2 less coal stocks listed on the market in a matter of months. Who is really left with this scale? I think most people just can't get their heads around the shear size of Riversdale's holdings and it gets a little lost in the tiny market cap. Once all this comes together, then the upside for this company will be larger than expected. No other company has this tonnage, quality and close freight capacity [to markets]than RIV. The larger resource funds will come when the times right. That might well be in early 2010. They continue towards production anyway. dyor.
RIV Price at posting:
$6.64 Sentiment: ST Buy Disclosure: Held
