other examples, page-3

Cheers Nic,

The 2.5bn to 3.5bn number that the company has stated i feel is only the beginning of the resource base that over the next 12-18 months will be proved up. Bundi on completion was estimated in the prospectus as around half of what has already been found after drilling 14 holes! So will be looking forward to what upgrade there is there.

Add roma north, dalby, upgrades to columboola, tina, may etc and this really could head well north of 2.5bn tonnes and that is just MTE share and not including the monetisation of any future JVs.

What will be interesting to me is the strategy of MTE and whether they use (assuming they receive cash for bundi jv) the cash to go all out on a drilling campaign on multiple fronts and monetise assets through more JVs over the next 12 months or park it for the expensive part of production down the track??

Hopefully we get an EV/t similar to BND over the next 12 months!!