Trading steady at A$4.20 today ( closed at A$4.25 ) after falls in the last week. Trading is very light indeed, as we move closer to the now very important half yearly results.
Why are the half yearly results so important this time? Because of the sales of parts of Yarrabee, Minerva and Athena, and Hawks Nest, the financial position of the company has changed a great deal. Loads of cash and every mine fully financed and it looks to be a no debt situation. The profit picture has changed as sales have mean't less forward profit on all mines except Moolarben and Harry Brandt; These last two mines are not making any profit at the moment and much has to be done, as well as obtaining final permission to go ahead with the last two mines, more on that later.
Much to look forward too, but keep those worry beads passing through thou fingers as the road ahead looks all blue sky and that sometimes is cause for concern for long term holders - those who have seen the train stuck in the sidings quite often.
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