From the Times Online today1 Mar 2008 16:03
Shares in Caledon Resources, the one-time goldminer in China that is now developing Australian coking coalmines, have been climbing nicely, up another ¼p to 47p, as this year’s coking coal price looks likely to rise when it is set in April.
Yet there has been gossip that problems with equipment at its Cook mine meant that only 30,000 tonnes were extracted in February, compared with the 100,000 tonnes a month that Cannacord, the house broker, is forecasting by the end of March. The company refused to comment on production levels but said that everything was progressing to plan. Timing is tight, since Caledon needs to get away a £10 million to £15 million Australian secondary listing � priced at 35p to 40p � in March to plug a gap in its finances.