The coal is of only moderate calorific value and the resource is...

The coal is of only moderate calorific value and the resource is small. Small resources don't pay back much when all the one-off cap ex and overheads are included for a mine in the middle of Kalimantan Jungle. I haven't ever seen a smaller resource quoted in the coal business in relation to a greenfields development, although I'm sure they exist. Price of thermal coal is dropping fast and only large mines with economies of scale will likely make a dollar. IMO this project is 2 years too late given the price cycle has turned. Of course I could be wrong and thermal coal prices might stand up against all odds in the recession ... but I doubt it.

Perhaps best approach is to pool this project together with some others held by juniors in the area and share infrastrucure and development costs while gaining more marketing clout and blending opportunites.

goodluck