sellers with orders must have gone fishing, page-52

esp,

I agree there is not enough info to make a guess but I figured I'd have a go anyway!

Lots of assumptions some fueled by rumor and plugged into Alex's valuation formula:

1. 300m shares issued raising around 16m
2. Acquisition with 500mt in MI category
3. Extra $30 of debt required to fund acquisition

Ok so if I plugg all this into Alex's formula I get:

Continental Coal (ASX:CCC) Asset based valuation millions

shares on issue 1376
options on issue 520
capital raising 300
Fully diluted 2196

Total Measured and Indicate resources (million tonnes) 169
Potential New MI resources 500
Total MI resources 669

Comparative valuation metric from comaprable peer = $1.07/t 1.07

Suggested peer comparison value of resources 715.83
Cash, debt and sale of vanmag = 20mil - 13mil + 10mil 17
Potential cahs from exercise of options = 520 mill * 0.05 26
Cash, debt and sale of vanmag = 20mil - 13mil + 10mil 30
CR Money 16

Total value 804.83

Share (cents) 0.366498179