Ann: ADD CONFIRMS JORC COMPLIANT 9M TONNE THERMAL, page-5

re: Ann: ADD CONFIRMS JORC COMPLIANT 9M TONNE... The resource is worth what they can get paid for the coal... spot thermal coal price have been higher than one hundred US dollars per tonne..

Market does not seem overly impressed by this announcement..

No Directors support... No Broker promotion... No new institutional holders... Late and minimal reporting by Directors.... errosion of cash backing through high Directors fee payment.. tells me the Directors are in no rush to see any growth in share holder wealth... now we all suspect the reason why...

Lets say recoverable resource is only four million tonnes and spot thermal coal is only fifty US Dollars per tonne.... both massive discounts ... therefore gross value of Tapan resource is US Dollars Two hundred million..... Not bad if you can get complete control via a three cent manipulated placement.... bottom line is this share price should be a lot higher... and it is not...WHY?
As Badvibes said....