I agree phillip, I was just having a look at STB's potash project maiden resource statement.
STB MC = $250 million Exploration Target = 750Mt - 1.25 billion tonnes @ 18-20% KCl Total in-ground value = ~US$80bn (using US$400/t KCl)
(taken from STB's MAIDEN POTASH MINERAL RESOURCE)
MNM MC = $35 million BM Exploration Target = ~1.8 billion tonnes @ 55% Black Coal Total in-ground value = ~US$130bn (using US$130/t) Total on ship value = ~US$80bn (using $50/t break even)
So STB's MC is seven times that of MNM's, though MNM's project at BM could potentially be worth more.
Then there is Mt Mulligan and of course the Latrobe project...
MNM Price at posting:
18.8¢ Sentiment: Buy Disclosure: Held