Ann: Execution of construction and CHPP operations contracts, page-44

For a very basic comparison, have a look at WHC. Annual saleable coal of 20.9Mt with a current MC of approx $5.5B. RES are targeting 6Mt p/a during stage 1 production. Assuming coal prices remain steady (for arguments sake), RES equivalent market cap would be around $1.5B or approx $2.50 p/s. Production is a long way off though, so best not get ahead of ourselves.

On finance approval, I'm thinking MC anywhere up to $500M or approx $1.00 p/s. At that point the project is de-risked to the point where insto funds would look at buying provided coal still fit their investment criteria.

All IM-amateur-O of course.