what's happening cgv?, page-8

It's not very attractive shell play with the options...any shell play is going to be dilutive to the max and then may need a capital raising.

With $3m in the bank why don't they look for more suitable coal tenements to secure in Indonesia or South Africa? Perhaps Martino can't deliver anything like this because of his association with Cokal (ASX:CKA) who have coal projects in Indonesia, South Africa and Queensland.

They want to be a traditional coal company..they need to start acting like one.