Ann: Increase in Waterberg One Coal ownership , page-19

Just doing a bit of light reading for a Saturday before the footy.

Went back over latest ann and did some calcs on our recent "housekeeping".

For the sale of its shareholding, Lukale will receive ZAR25 million in Resource Generation shares at $0.40 per share, subject to shareholder approval at the forthcoming Annual General Meeting, and ZAR20 million cash.

This totals ZAR45 million which converts to just shy of $5 mill AUD (conversion 0.11).

Anyone given this any thoughts? $4.95 mill for 30% ownership would value 100% WOC at $16.5 million. No idea what our tenements are worth but this seems cheap.

Any thoughts?

Anyways... go Blue baggers.