this is going to be one hecova play , page-11

Howareya

Rey is being priced at something like 14c per tonne.

Many other coal plays are trading at 50c to $1 per tonne.

Second many recent coal transactions show Rey's value.

Gloucester coal bought out for about $650 million they produce 2Mtpa, made up of 25% coking coal and 75% thermal coal.

Rey will produce 2mtpa then aim for 20mtpa.
Port secured, no constraints.

COAL & Allied sold their thermal coal deposit for $A480 million cash. Total coal resources of 398 million tonnes.

Therefore on above transaction Rey's assets should sell for about $600 odd million.

Once Pre feasibility study is released everyone will see its value and cannot doubt its potential.

$1 is fair value at least, plus add potential upside.

FMG used to trade on potential income, was worth billions years before it produces any Iron Ore.

Again PFS will lay down $$$$$ Rey will earn and give a better indication on Fair value.

regards