If you read the latest announcement about the drilling that is starting, they are targetting at least 20m tonnes of coking coal. At a minimum of $5 per tonne in the ground thats over $100m. With only 70m shares on issue that is roughly $1.50 per share.
Remember the person who stated 20m plus tonnes is Jacob Rebek, who used to work for Rio Tinto and CRA for over 40 years. My feeling is they will find more than 20m so its only a matter of time before this stock gets a rerating.
TCM Price at posting:
32.0¢ Sentiment: LT Buy Disclosure: Held
