This has become quite incredible now. JOGMEC valued Panarama North at $50m in August last year (which is basically just a fraction of Atrums prospective anthracite tenements – so zero confirmed resource, which means it has to be valued at a huge risk discount). There has since been a spectacular recovery in coke prices (which has admittedly run out of steam), but right now Atrum in entirety sits valued at $60m.
That set of variables would appear impossible, so what the hell is going on?
Ann: Appointment/Resignation Company Secretary, page-27
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