having done a little research here in SA, it would seem that ZYL fell foul of the greed syndrome, in which a prospecting right holder has an over-inflated idea of the value of his asset, aided and abetted by mineral valuators.
A coal property is only worth what someone will pay for it, no matter whta fancy formula is used to hoodwink potential purchasers.
With the coal price going south at a rate of knots a lot of this marginal projects are going to be stillborn. lets hope IB can get some commonsense deal out of this and move forward. kangwane should be the focus, the seams are thicker, the quality is better....
having done a little research here in SA, it would seem that ZYL...
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