Funny how RIV's Directors have changed their opinion on the inherent value of their coal. This is from a September 2010 report summarised in words - the graph is even more dramatic.
"RIV's value of coal is 0.13 cents per tonne compared to a transaction average of $3.03 of other major coal companies". - Yes that's $3.03
RIV's share price at the time was $9.49.
So RIO want to get RIV for a value of less than 0.25 cents per tonne. Someone is pulling someone's leg even when the existing project risks are taken into account.
RIV Price at posting:
$16.47 Sentiment: LT Buy Disclosure: Held
