very quiet hc stock, page-20

Hi,
I don't know much about coal stocks but reading the prospectus it says that the coal seams are between 3 and 5 m thick then there is a band of rubbish 3 m thick and then some more coal seam 5 m thick.It keeps going deeper in this fashion.
This I think compares with coal seams up to 200 m thick for Coal and Allied and Centennial.
That is probably why it is described as a training mine.
It would seem therefore that it is a punters stock being swept along with the hype.
Any valuation can not be determined for years.