Happy to give my two cents, also for an EV value once they get the resource into JORC compliancy.You could expect an approx figure of 30-40c per ton of material. This figure could easily change provided they continue to find better quality with improved content (e.g. lower moisture etc) or they use a method to improve the qualities they need to market the material.
EV value on this atm is minimal, using the lowest calculation that i believe is applicable.
* 24m cash * 327mt x .20c per ton = 65m approx (Discounted due to non JORC status, lowest value)
*EQUALS = 89m (Not including other prospects) S/P = 89m/115m share approx = 77c approx
Hence whatever way you look at this it's seamingly cheap. There is no EV value for the potential they believe the prospect has, which would be for a billion ton coal resource.
GB
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