interesting, page-10

just a quick comparison:

RES-
49% interest in the 7 new tenements, USD$1.5 mil (AUD $2.27 mil) cash payment + 2ZAR ($0.30 AUD) royalty per saleable ton of coal produced from the area

FSE-
50% interest (60% with completion of a BFS) on its 4 new tenements, AUD$2.59 mil cash payment, issue of shares in FSE to the amount of ZAR 256 million (AUD $38.79 mil) - 785,000,000 shares, reimbursement of exploration to sekoko for AUD$1.87 mil