Wal71 - A few things to take into consideration with respect to...

Wal71 - A few things to take into consideration with respect to RIV is that they are sitting on some of the highest quality coking coal in the world plus they have a huge resource under their control. The Benga lease being the first to be developed which Tata have a 35% share in. The issue of transporting the coal to the coast is one I think will be solved by barging up the Zambezi. It will be far less expensive than rail and more reliable and safer. The Zambezi is completely unused and is relatively easy to navigate due to it's width and straightness. It will also avoid any reliance on cooperating with Vale (who are developing a mine directly next to RIV's Benga lease) in respect to sharing rail facilities. RIV are also sitting in a region that has strong local demand (south Africa and Mozambique) for thermal coal, of which they are ideally suited to exploit
With Steve Mallyon's strong ties with RBC Capital and an extremely strong cash statement which is buoyed by the cash flow positive ZAC (small South African anthracite mine) which they own.
I think it will be very unlikely that they will need to raise capital to pull this project off, the market seems to think otherwise at the moment though. They have also just embarked on a 10 month or so drilling program on their other leases. (They are the biggest lease holders in Mozambique with approx 250,000 square hectares of concessions) So we should see some interesting results start coming through in the months to come. I think once the market starts to understand the amount of coal that they are actually sitting on and the quality of it, we will see a price correction - north!!
These are a few points to think about and obviously paired with Ken Talbot's involvement and the bullish coal price, Riversdale is an extremely interesting company with some exciting long term prospects - IMO.