You can publish a NPV without people bulk testing coal. The...

You can publish a NPV without people bulk testing coal. The issue I have is that they did not include any parameters utilised within their modelling into the release.

What is the FX they have used? What is their forecast coal prices, both short and long term? Were they using broker consensus pricing, or just randomly plucked figures from a bingo ball roller (although I contend its the same methodology). We need to know how bullish they have been before accepting an iota of credibility within that horribly distorted figure. If their project NPV was real, I'm sure their market capitalisation would reflect it instead of the lowly circa $50m it currently is. This is without even going into things like the discount rate, WACC etc etc.

I reckon I could derive a $1 billion + NPV for their project through a simple model and some ridiculously wayward figures.