Ann: Caledon Acquisition Approved at General Meet, page-7

re: Ann: Caledon Acquisition Approved at Gene... For whatever reason the market seems to choose to ignore this imo brilliant news. No downside risk and all upside. Its really quite amazing in my view. The recent CCD JORC from memory (I may be wrong but not far off the mark) was just about double the previous know coal resources. Sure it takes time to double or more the coal output via Gladstone and later Wiggins but its possible that within 5 years this stake that ORD has in CCD could readily be worth twice the current ~$50 mill (assuming 10 %). I think that within 5 years it will readily be worth $100 mill to ORD. Now this means that ORD can at that point in time take a bridging loan for $50 mill to acquire the $100 mill. Sell $50 mill worth of shares and immediately pay back the lender and then keep the balance of $50 mill. Now take a long hard look at ORDS current MC. Its less than 50 Mill ! How de-risked is this stock (for the patient) ?

I expect around mid September we will get fuding clearance for CF and also SJ. A bit later than I had hoped but that life.