btu valuation ??, page-2

GMC

I get the feeling you are curbing your enthusiasm, but I agree that at this point in time and in the tenatative market we find ourselves in, your approach is the right one.

T/O target of $3. My handle on this would be that it would be in the ball park for an offer to come out of the woodwork post the hearings. It would be about the minimum in my view because of Hamishs big hairy goal of keeping to the Late '11 production target. My view would be that as it moves into production the takeover premium would grow as would the market price of our shares. So, a $3 t/o offer would need to be timed very soon after approvals and priced to wrap things up quicky before value evolves.

I also think the Fairdown residents are resigned to the project getting the go ahead. Their negativity is to be expected from any one who is trying to maintan a cherished lifestyle. I do hope that it is BTU's intent to operate in the top percentile of the worlds coal mines from not only an operational sense but also from an environmental perspective and that the residents: nay the entire communtiy can be won over by actions rather than promises.

I must say I would like to know what portion of the long term cost per tonne of $86 will slosh around the local community. That might be a Q for Hamish next time one of us gets his ear.

So, Rose colore glasses: I dont think so

That variable, being the $ per tonne to be received for our "silk of silks": Seems with every day that passes we may be selling into a $340 per tonne market with more and more certainty.

Its hard not to get a bit jittery. Good thing Ive got some dogs in my portfolio to keep me distracted.

Viney