I don't understand why you keep saying comments like "which quality assets". I think we have convered this a number of times right? You are very big on ash content well how about the asset that has direct shipping termal coal, a strip ratio of 5.5:1, capex $40M, opex $42 FOT and should be in production within 12 months? You yourself have said that the MDS asset would probably sell for $125M or make profits of $500M over 10 years. I am therefore confused by your continual reference to poor assets and high ash content when it completely overlooks the MDS asset. It appears your criticism is completely directed at Rockwood.
I am all for crticising management when required and try to be as objective about stocks. For you to now suggest that MDS is not a quality asset is crazy. It is small granted but I could think of no better exploration coal asset at the present time - very low capex / opex with a short time frame to production. This is the exact type of asset which will reach production and mean the company remains viable (as opposed to companies with larger assets which may not get to production).
Keep it real mate.
I am the Iceman!
EOC Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
