I stand corrected you are right, it is JORC compliant. My appoligies, i was working from the 2010 annual report and i also got mixed up between Khar Tarvaga and Galshar. As Galshar is the tenement that requires drilling to firm up its potential 220mt resource to JORC compliancy.
"Xanadu has delineated a 327mt thermal coal resource to JORC standard"
In that case you could easily upgrade my prevous figures to include a less discounted rate per ton.
* 24m cash * 327mt x .30c per ton = 98m approx (Medium Value)
*EQUALS = 112m (Not including other prospects) S/P = 112m/115m share approx = 97c approx
Also you could add the Galshar potential resource however it does require some work. But that leaves alot of potential upside in this share in the near future.
GB
XAM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)