paydirl march 2011 article, page-47

bigbillbrown, no I do not specialise in accounting, but you don't need to provided one knows what one is trying to say.

So what if I get some of the terminology wrong, I'm not naive. Do you want me to use the term income instead of earnings? I will ofcourse factor in taxes and BEE once CAPEX is paid off. Did you even read to the end of my post? I explained that quite well. Let me be a cabbage boiler and repeat myself.

"Given that the South African prospects alone(including Vlakplaats) could be making annual NPBT of around $250M (with coal at $120-$130 per tonne) in 2014, then that would assign CCC's net stake (after BEE) earnings (income) of ~$190M.

Take that earnings (income) figure, chuck a tax figure on it, look at the total mine life (20-30 yrs) and the potential at Botswana (estimated 2.7Bt shallow surface coal), and it's very hard to see how CCC will be valued under $2B by the end of 2013."

If you just want to say that I'm wrong because your accounting brain can't look past a few errors in terminology, then I'm sorry but you are your own worst enemy. This is a forum where one should be allowed to share their thoughts without having egocentric posters like yourself banging their head on the wall with a "your wrong I'm right" attitude. Hey if you can't understand then what I'm saying then that is your own loss. Plenty of other people on here seem to be able to comprehend what I'm calculating.