Update!!
I rang the head office and spoke directly with the MD/CEO Gary Fietz. I asked him what the expectation was in regards to the release of the Coking coal scoping study that was originally planned to be released last week.
He replied in a frank, relaxed manner, mentioning "one week" or even "...within the week.."and has left me the impression I would be hopefully happy with the results of the study.
The consultancy company who were tasked with the study were late with some information to be included in the study (Im only presuming here that there were some last minute inclusions due to the recent global impacts China, Brexit)
He did go on to mention how Brexit had to be factored into the costings, stating (to paraphrase)"... that the UK sterling devaluation has had the impact of reduced operational costs...", which translates to lower costs overall, which would only increase the feasibilty of moving forward with production. So my hunch was correct.
He also acknowledged China, who produces over 300mil tonnes of coking coal for the domestic market, would have a signifcant effect on the overall worldwide supply whenever they cut production.
Interestingly, he mentioned India and their ongoing demand for coking coal, but didnt elaborate (Is this possibly factored into the study??)
Given that coking coal prices are stabilising at around $160-170USD/tonne, he acknowledged this is good news.
He obviously remained tight lipped about any possible content of the coking coal scoping study, with regard to forecasts as you would expect, but he came across as very relaxed and upbeat about the next upcoming announcement. Very positive impression indeed. I look forward to seeing the announcement soon! Best to all!
http://nae.net.au/corporate/board-of-directors/
