1.5 billion coal project, page-19

Hey Rumchuck, we all get you what you mean. These lows have been with us for a while. In the meantime we have seen oil peak at $150 then drop to $90 then rebound to $120 and settle at $110, you could call it volatile. Also America works out that too much leverage going the wrong way in large financial institutions is a bad thing. Great...

When the spec sentiment returns, which by the way predict IMO to be around November heading into the New Year, Mantle will be right up their with the runners. It is way undervalued at the moment, the MC is roughly $5 million undiluted taking into account cash. I have cut and pasted a comparison of coal explorers and miners from this broker report on NEC.



Note from the above that Mantle is 0.01 A$/t once access is granted based on the 500Mt. Incidentally that is 20 times less than NEC's current EV/A$/t. Any phosphate resources that may be in the Georgina Basin tenements will also contribute to a revaluing once results are available. Also with gold back above $900 set to test $1000 again, progress on the gold projects would be well received.

I have done a bit of research into Ian Kraemer and the Exergen technology but I will save that for another time. I expect most of this will be revealed in the scoping study for the mine anway.