Ann: Trading Halt, page-8

Definitely a fair question. Difficult to say. There are so many moving parts now from previous acquisitions and no clear indication on pricing or updated group NPV to gauge valuation. My rough figures are for a valuation well above $1 but execution risk has increased and shareholder visibility has decreased so it’s harder to have a super high conviction.

It does look like they have bought well previously but there’s been a lot of dilution to pay for that. I’ll still hold as coal will remain hot for a while and there’s a lot of development inflection here which can lead to multibag potential but I didn’t see another acquisition coming so soon.