Vertigo, My calculation of the profit comes in at $40/mt profit based on a 30% discount to the current $130/mt. Since it is the rough stuff compare to the black coal. Even tho it is a substituted black coal equivalent. IMO, the market will see it as that for the time being until it proves up just as good eventually.
Still that is fairly good profit for the life of the mine operation going forward at current market price. LV area is already a well known brown coal area, I would not be surprise if they found something like 3b-5b tonnes of brown coal compare to Bacchus Marsh.
MNM Price at posting:
20.3¢ Sentiment: None Disclosure: Held
