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Barry i know you are very bullish on this share. Do you feel that the share's current pullback is due only to profit taking or is there other news out there. Do you feel this is a good price to get in at for the long term or do you feel there is a little more down to come? thanks a lot
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Super Contributor
Long term i'm bullish,but would hesitate to buy any more now as seasonal factors are likely to influence the marketa nd the export price of coal is faliing.Also go to the to see latest dates that progress can be awaited....A better share IMO at the moment is SNU which is still in recovery mode.
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Super Contributor
I have been following this share for more than a year now. It has great potential and has large coal reserves with a guaranteed market. They recently reported that the Mooiplaats mine was experiencing difficulties because the geological modelling had not indicated that there are dykes / faults in the proposed area of mining. It will impact on their delivery of bituminous coal, and of course on future profits. Good for the long term, but people are dumping it now because of the bad news. I am increasing my holding each time is goes under R11. The mooiplaats mine is an underground mine and it is substantially smaller than the big open cast mines that they have in Limpopo. Once the open cast mines come into production, this share will do extremely well. I am hoping for R30 by the end of 2010.
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Frequent Contributor
cza is having hassles with enviromental watchdogs the mining area transverses wildlife sanctuary blasting scaring the wildlife. dodgy business.
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