share in 35bt tonnes of coal...mkt cap 16mn..., page-32

"CDS s a very comparable recap. CDS was a recap'd company. Was nothing before they put in a Coa project."

- Google was nothing before they put in a search engine. Its faired a lot better than other things in the same space that subsequently tried to piggy back on their success. Check the QUALITY of the PROJECT.

CDS put in TURNKEY PROJECT that was FORCIBLY TAKEN AWAY from BHP. They had drill data that could IMMEDIATELY be interpreted into a SIGNIFICANT JORC of a INDICATED/MEASURED category (ie BANKABLE). They had a project in an area where the best of the total resource had not been mined by others and were facing low strip ratios. Check the strip ratios CDS has compared to peers - very good. CDS also put in COKING COAL.

"Not sure where you got the CDS 200bt."

- CDS's tenements are in the Waterberg coal region. Known to host 200 billion tonnes. Note also that is probably conservative, hence why the like of BHP and BP coal had land pegged their and why many other Anglo Coal also have