Ann: Change of Director's Interest Notice (Peter Westerhuis), page-10

Under 10 cents has value, under 5 cents would basically be valuing Bathurst, without a 65% stake in what was once a billion+ dollar company Solid Energy (ie extremely cheap).

It is not too surprising to have seen the price drop this past month or so.. coal prices have dropped, and Bathurst continue to not do anything regarding their huge Buller prospect (which annoys me slightly as with coal prices way higher than a year ago, I would have liked to have heard a few more 'good things' that "we are monitoring the situation"... this along side some traders (likely) to be cashing up in fear that a wave of shares will be dumped onto the market (which is possible, but I believe currently unlikely) has put alot of pressure on the share price: causing fundamental underlying value to be ignored, again.

Eagerly awaiting things to be finalised and put into action.. remember BRL's Solid Energy transaction actually isn't complete yet, and not for another few months from what I can recall (so the rail line going out of action for 6 weeks probably has 0 effect on BRL)
Coal prices, and if/when/where they stabilize will also be interesting, and as for the court action, which has likely also spooked some people, I believe this is relatively minor and BRL seem extremely confident