Yeap, just looked over the old ann's again. I slipped up and...

Yeap, just looked over the old ann's again. I slipped up and only mentioned the 6.5Mt of coal at Tririchardsfontein.and forgot to mention the the previous defined resource/ mineralization of 119M tonnes of coal.

119 Mt * $120 per tonne = $14B resource!!

$14B * 70% = $9.996B ( 70% acquisition)



Current market cap: 30 Million.

Very roughly, a spec stock's market cap is worth 10% of in ground resource.

Lets halve that and say 5%.

5% * 9.996B = $499,800,000

$499,800,000 / 30,000,000 = 16.66 ( Market cap multiplication potential.

16.66 * $0.03 = 49 cent share price.

So IF things are still on track and there is something in the vicinity of 100Mt of coal involved, 3cents is ludicrously cheap when it could progressively reach a conservative 50cents just on a good JORC.

Halve that SP again to compensate for funding/ cap raising/ dilution etc and 25 cents is a very rough ball park figure. It would explain why people were happy to pay up to 10 cents last year just on the rumour of good news.