Yeah Itochu are a bit weird. In the sense they dont want to take the risk of the upstart but also are interested in the coal with multiple site visits and introducing to clients, bringing Jap delegation from Tokyo for meet and greet etc.
The PCI coal is not going to head to the japs I'm fairly confident of that. So the only angle I can see here is setting up for coking coal uptake when it eventuates. Think their current visits are more relation building than putting a firmer bid for the coal.
IMHO all of this bodes well for the cka holder and allays the biggest worry of never seeing the mine up and running.
End of quarter approaching and the management would need to show what was achieved in this quarter. Removing more over burden not going to cut it.
CKA Price at posting:
4.3¢ Sentiment: Hold Disclosure: Held
