xcd valuation

taken from AFR investor presentation May 2011

Moabsvelden thermal coal project 55Mt JORC (74%)

Capital Structure
fully paid ord. shares 90,500,435
Cash: A$10,611,000
debt: nil
s/p: 0.11
current EV: -A$655,952

Based on the valuation using JORC resource

EV/Resources
Average: 0.34/t
Max: 0.79/t
Min: 0.14/t

XCD's valuation
Average 24cps
Max 45cps
Min 15cps