this week, page-23

I was just reading an article in the age which may be interesting to MNM holders

Nucoal-NCR is doing a deal to acquire a tenement with a resource of 89Mt and 300Mt of semi-soft coking and thermal coal...

I cannot open the actual agreement but according to acticle below the price is..30 cents x 253 million shares = just over 75 Million

http://www.theage.com.au/business/nucoal-shares-leap-on-coal-deal-20120220-1tiv0.html

"Assuming a constant 30 cents share price across the three tranches, Nucoal will issue approximately 253 million shares to Bloomfield, which would represent approximately 28 per cent of the company's shares on issue."

So IF this resource is approximately half the size of Mt Mulligan we can make some assumptions on what sort of value its worth IMO...

So based on this deal I assume that Mt mulligan is worth a conservative 120 million maybe?

dyor