Have just been trying to gauge some timelines/milestones from PJ's old venture as I don't know how much detailed info we will get before the completion of BFS.
RSP IPO in Sep 04 floated at a $1.00. At Nov 06 they had 200 Mill shares on issue with Market Cap of $236.7 Mill - SP then $1.18. Production of semi coking & some thermal with coal contracts at the time running at around US$70.
250mt resource (Hunter Valley). Prodution began Jan 07.
RES (via CDS re-structure) has been going over a year. PJ & SM joined in Jun08. We will have around 70 Mill shares on issue, our market cap is substanially lower considering 3 times as much resource and probably x4 + by BFS stage.
Ash & Sulphur content slightly inferior based on RES preso which is compared to Hunter coal.
Keen to see the progression over the next 12 mths. 24mths from here - Production ? PJ and team very much stuck to timelines/milestones with RSP and hoping they can make that same committment here. I with some feel this play may be setup for a takeover down the track like RSP was. History repeating itself is the reason for my patience on this stock.
Happy to be corrected on any of the above info or feedback fellow RESonaters.
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