teresa coal tenements, page-10

Nic, I spoke to the guys after a twilight presentation a couple of years ago about the same thing, Emereald $1.5b.

The boys explained that they were approached out of the blue. They were asked what they wanted fot it, and PB threw what he thought was a silly figure. So the $1.5 was not really what a competitive market would have paid if the coy had it up for sale.

Galile was $10 a tonne from what I recall, that was a larger resource with a greater upside, but no infrastructure. Emerald is over 800m tonnes and better located. It was always thought to be worth $500-600. Unfortunately, being in $US, we loose out there too.