monkey buy at 57.5/58, page-49

Have you had a look at Indonesian Project (thermal coal) - notice the CAPEX.

"The study has confirmed that the Berau Project has the potential to generate an annual operating surplus of approximately US$33m, with:

• total capital cost of approximately US$19m;

• average operating costs of approximately US$41 per tonne;

• a projected coal price of approximately US$52/tonne, FOB ship (current prices are approximately US$55-57/tonne);

• 3 Mt peak production per year;

• a run of mine coal product of medium calorific value of 5,400-5,600 kcal/kg GAR with low sulphur - 0.66%, as received (AR); ash - 7.3%, AR and total moisture - 16.6%, AR; and

• a development timetable of 8 months from receipt of development approvals to production."

11/06/09.