production started..., page-8

Info released so far that I know of:
1. 34 million tonnes of coal (JORC I think)
2. 900,000 tonnes production capacity PA
3. US $3 per tonne ($3.20 Au) royalty

EPS of 3.7 cents.

By these calcs, this stock is severely undervalued if this is played out.

It is a $3 mill income for 34 years free carried that = $102 million. The cap now is 82 mill shares x .08 cents = $6.5 million.

Then there is the upside from other projects and further exploration on the tenements. Not sure what that is worth but it looks like there is a lot more potential.

From Business Spectator - Coal FE, through its subsidiary Indocoal, will receive up to $US3 per million tonnes upon production and sale of the coal. The mining can accommodate a coal production of up to 900,000 Mt per annum, with its exploitation licence to be expired on December 18, 2024.