big chat doing the rounds, page-5

From research -
Have included only the proportion of the resource/reserve that is attributable to the company (reported JORC complicate only)

Resources size is not really comparable as coal quality varies hugely between the companies (energy content, thermal, coking, etc)

Rough guess is that EV/Resource value for average quality coal resource is 25 a tonne, and potentially up to 50 if a large part is in Measured and Indicated (i.e. not to much inferred)

Rough guess is that EV/Reserve value for average quality coal resource is at least $5/t, and potentially up to $15/t


So if ATQ can get its resource up to 400mt from the current 210mt, potential value is $60m ($0.60 share), or if a large part of the resource goes into the measured and indicated category potential value getting closer to $100m.