I think it is important to keep focused that AVA has always...

I think it is important to keep focused that AVA has always looked at its assets as coal and power.

The value lies both in the coal and in power. The coal assets are easier to value while the power asstes were always harder to value.

Hence if you keep things simple and you value this company just on its coal assets for the moment AVA is still cheap. Just compare market cap of RES with market cap of AVA. Both companies have coal assets close to the Botswana border, both are vying for Escom deals.

With the Mozambique port development affecting both then a fair comaparison can be made.