140-500 million tonnes of thermal coal..., page-6

As I interpret the announcement, it's not something the market was aware of and seems to be the 'QLD or Mongolian tenement' they were talking about in the quarterly? What I'm wondering is how much the acreage cost TPL as there is no mention of price.

At first I thought they might purchase an asset with near-term production potential to act as a type of cashcow for the mass of drilling that Canning Basin will require. This announcement more suggests they'll be relying on a reasonable share price appreciation before completing the next cap raising. Without some strong price gains, the registry will get diluted to hell throughout the project's exploration stages; but with the potential we have here, I'm confident they can get the sp up significantly leading into drilling and be raising funds closer to 8-10c than where we are now. 8c would imply a MC of around $22M. Very reasonable and shows how far we have to run.