owners of tiger coal are, page-10

On both occasions CDS bought out companies that had only just "applied" for coal leases. Essentially shells with NOTHING else in them at all! Thes two entities had done NOTHING, except very recently apply for leases.

The total cost of both transactions is 100 million CDS shares .. essentially today, a value of $20 million dollars to buy leases that had only been 'applied' for!

You do the math.

;)