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Strategies & Market Trends : Natural Resource Stocks
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To: jimsioi who wrote (19019)12/16/2004 8:53:58 PM
From: Rockyford22  Read Replies (1) of 108718
 
HUGO - Thanks, Jims, for the information on HUGO.

Made it my biggest holding after reading about their coal discoveries. Sixty meters thick of high quality coal is unheard of in my experience. In the US largest coal producing area (Powder River Basin) the thickest coal is about 100 feet, and it is sub-bituminous. The capital cost to open a coal mine is a fraction of that required for a hard rock mine, and you don't have to blast, smelt, or refine it.
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