All i just received research note from well respected investment bank based overseas -here is part of it:
? "A timely offer. Hunnu does not have sufficient cash to develop both Unst Khudag (thermal coal) and Tsant Uul (semi-soft coking coal) and arguably does not currently have the management capacity to develop two greenfield projects. In this respect we think the Banpu bid is timely. The biggest variable for us has been the coal quality and future realised prices at Tsant Uul. Hunnu has not released results from the coal wash tests, and without this information we believe a competing bid will be difficult and unlikely. We value Hunnu at AUD2.20/share assuming a mine-gate, unwashed coal price of AUD45/t at Tsant Uul. "
The most interesting comment being " and arguably does not currently have the management capacity to develop two greenfield projects"..
Thus once all C@ info is released on location ,vendor and other details relating, to the 8 licenses ,notably those in South Gobi + what little we presently know of adjoining Ovorhangay province..and with a management that does have capacity to develop from greenfields to production and marketing ..with HUN as a benchmark ..what upside then for C@??IMHO within two years >1B i.e. 1.50-1.70ps fully diluted.
CEO Price at posting:
8.7¢ Sentiment: LT Buy Disclosure: Held
