price, page-11

Announcement has not moved share price up - currently down by nearly 3% only 6 trades so far today..

My estimate of the announcement...please correct me if i am wrong...

30% interest in the Coal project in Sth Africa that has an estimated resource of 120-140mt coal..

396 mill Shares on issue currently
...
To increase the interest to 74%

Payment of $47.60million at 34cents x 140mt =

Or shares at .48cents x 140mt = $67.20mill equivalent shares...Divide by current SP of 3.4cents and it would need to issue 1.920 billion shares to take a 74 interest

This would raise the issued shares to 2.316bilion.