If you take out the $26m MTE has in cash in it's own right MTE...

If you take out the $26m MTE has in cash in it's own right MTE is now trading at about 4 cents a tonne. This also excludes it's 50% share ($10m) of an approximate $20m in the Columboola JV bank account.

All tenements have rail running through or along their tenements with the exception of Bundi which will have it in the next few years.

No doubt MTE may get cheaper the way things are panning out in Europe but I am encouraged by the huge resource Metrocoal holds and it will only get bigger and more defined.