simply ludicrous, page-4

Yes and no.

If you look at juniors / explorers, only one other company (MTE) has similar tonnage and interest from JV partners.

BND was probably the most prominent coal play in terms of intense takeover speculation. Once it has port allocation and spur rail to main line, then it would be worth a lot more.

If the QLD government gives the green light to mine teh golden triangle (partial open cut - part underground), then the sp can spike back very strongly say $1.5 to $1.8.

You never know, given India and China's demand for (coking and thermal) to increase exponentially, in the future even $2/sh may look cheap.