it's a descent sub-bituminous coal for thermal power at 19-22mj/kg adb.
if we work on a pro-rata with hancock's sale at 0.17c for a 6330kcal adb coal to EER's 5000kcal adb - it gives EER a value of just over 0.13c - now if we give EER another 50% discount again;
comes in at 0.065c x 2bt = $130m or about 78c per share.
and that is discounted by 50%
Ann: Updated Quarterly Activities Report , page-3
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