Virginiak, wise move to get out. While CEY has improved as a company over past 12 months we still have the hangover of times gone by. Remember back to last year and the announced closures of loss makers such as Northern ops expect in this report to find that that isn't happening.Newstan at present is in the first third of the last block and trvelling pretty well & making budget. But that is this 1/4 last 1/4 07 was well into the red even after the transfer of men to mandalong. Rebuild of Longwall face 8 mill plus was way over budget.Problems with roof control 2 milliom plus.Change over was on time but ramp was slow but that will effect 2nd half. Decision has also beeen made to now continue production into Sept/Oct. Then closure then reopen new workforce and new low profile face equipment with longwall productiion large cap exp. Which at the end of the day is the biggest problem facing all miners atmo. Manadalong is looking for 5 million + rom one problem they are 6 kilometres behind in drivage and facing expodential cost increases.So where does that leave us basically getting better but watch out for the left field and getting smashed by something outsiade of the companies control. Cheers,roidz
CEY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
