BWN 0.00% 4.9¢ bowen energy limited

expert's calculations

  1. 215 Posts.
    I'd love to know all about the objections Frank Farrall has to the proposed Bhushan deal that caused postponement of discussion of the resolutions concerning the Bhushan deal from the meeting of Dec 23 - I wish he would post his ideas on HC.

    I have noticed some things in the expert geologist's report that appear to me to be anomalous:-

    1.In his conclusions (page 21) he writes "A coal seam with a thickness of 2.5m over an area of 50 sq km amounts to 350Mt (density 1.4)."

    By my calculations it is only 175Mt (50 000 000 x 2.5 x1.4)

    2. On page 20 in his Comparable Transaction Valuation he states that EPC1045 is 240 ha in extent, whereas it consists of 279 (or maybe 272 - he gives two different numbers for the sub-blocks comprising this EPC on page 5) sub-blocks . According to the annual report it is 906.75 sq km.
    (In the table at the bottom of page 20 he gives the area as 280 ha)

    So if it is 906 sq km then the value per sq km is $2,980 and $29.80 per ha and not the $11,250 per ha that he gives.

    Actually his table at the bottom of page 20 appears to give all the EPC areas incorrectly - he has stated them as ha whereas the numbers he gives would more closely reflect the real areas if these numbers were sq kms not the ha he states.

    However, I am no expert, but the expert's table looks inaccurate to me.

    What do you think ?
 
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