RES will have a 70% (and 74%) interest in all SA tenements after they pay the USD exploration costs. see 23 Jan 09.
With the FSE deal announced today, they only get a max of 60% interest after they spend the USD exploration costs and dilute through the share issue to fund the purchase. From memory they will have 50% in the coal assets previously acquired.
Therefore, provided they have the same coal resource, then RES will be more valuable than FSE (ignoring specifics of coal content etc).
I note most of the FSE stuff is inferred. It may take ages for this to be proved mineable.
RES is closer to proving it can mine through its completed drilling program and its current program.
RES Price at posting:
54.6¢ Sentiment: ST Buy Disclosure: Not Held
