they want in bad, page-3

Had a tip from a broker on this last week at 7.7c - no info given - other than well respected management

Still can't workout how it can justify Mkt cap of $55m

Recently come out of deed of arrangement with no assets other than $1.3m in cash. To acquire 70% of coal mine for $7.7m cash and 250m shares at 5cents - looks like they will also need to issue more shares to raise the cash (should have close 1 billion shares if completed) component.