approvals are close, page-8

yeah.. some rough calcs..

CZA.. market cap $1.3B

shares on issue 398 m

options on issue 19 mill

coal at Makhado 1.4 billion tonnes

current SP : $3.12

Cash in bank: $250M

Compared to FSE; . a heap more cash in hand.. at this stage 4* the resource + other projects. 20+* the market cap. FSE has a fair way to go to even get close..

First have to get the deal approved.. then resource upgrade.. and management upgrade as activities intensify.

But yes, FSE's potential is very very good. :)