Sorry mark17, dont really know.In brief what i said was atm...

Sorry mark17, dont really know.
In brief what i said was atm there is not much joy at Newstan. It cntinues to bleed the co. 5 mill losses in both July and August and heading towards 7 for Sept. So you see why its imperetive they sell asap, problem is buyers are thing on the ground. As far as site visits there have only been a few 2 Chinese and some Indians no big players which goes to show they are not great assets. Koreans however are keen on the old Munmorah but there are issues with their plans for there also. The biggest problems are the existing contracts and these will effect all of the old powercoal mines as well as Mandelong, the power stations dont pay big money for their coal and these contract were set when coal was on the nose. Now its killing CEY costs are escalating faster than the built in price increases under those contracts. In Newstans case they are greater already so no buyer is willing to take the mine with the contracts. Incredible really when he deal was done back in 02 the contracts were a major attraction but that was pre the boom, and from that you have to wonder at what price do cost catch up to income at the likes of a high cost production mine such as Tahmoor. No one is immune BHP and Rio included they are just bigger and can absorb more and offset it in another division CEY does not have that advantage.
Cheers, roidz