Fully funded low EV Canadian coal play with JORC of 257MT coking coal. It has been discounted as result of fires somewhat near the project last year which has delayed operations for 12 months. Was 12c prior to fires, nothing has changed and project was unaffected. PAK having exploration program ready to expand their resource and are also looking for other acquisitions. Big T20 (Grigor etc) and top notch mgmt.
MC 8.9m
SOI 168m
Cash $4.7m as of 14 April
EV 4.2m
