I certainly don't think an undeveloped coal tenement (even with some decent resources ) is worth hundreds of millions of dollars - otherwise we would have sold that a long time ago. But for something more realistic check out this link - it is an old analyst report from the good old days when we were going to have a project at Kingaroy and I was going to be a lot less poorer than I am now! ;-)
http://www.cougarenergy.com.au/pdf/CXY_Initiation_090625.pdf
It does a bottom up valuation of cxy and they attributed $12.5m of value to Wandoan alone which is more than our total market cap still... This was before the massive resource upgrade in late 2009 too!
Fingers crossed fellow shareholders... At this point anything is a bonus as it will stop the further dilution we wold need to take to move forward in Indonesia!
I certainly don't think an undeveloped coal tenement (even with...
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