JAL made another important step ahead with the appointment of Mr. Palm. He will overseeing the operational aspects of the Basin Coal project during the plant recommissioning and construction period and through to production. A feasibility study is underway and due for completion in Q3 2009.
Mr Palm seems to be very experienced in bring projects up to production and he will receive an option package with performance hurdles related to the project development. He seems to get the right incentives ... Approvals have been received by Jameson to re-start mining at Basin Coal mine within 12 months. Discussions with potential domestic and overseas off-take partners are well advanced.
Give JAL some time a good long term investment - with a good management and good current shareholding structure.
JAL Price at posting:
52.0¢ Sentiment: LT Buy Disclosure: Held
