jv progress report, page-5

Who cares? The facts are that MTE has secured non binding bids. Let's say worst case the anticipated 1bt resource at Bundi is valued at 20 cents per tonne. That is $200 million value. Half of that as a JV participant is worth to MTE $100 million in cash. Therefore basically put, MTE has $100 million in the bank and then approximately (probably understating) 1 billion of JORC coal in it's own right with Columboola and other tenements by December this year.

Current market cap is approx $120 million.

I believe there may be still some profit taking currently in play.

Makes sense?

Don't rate this post if it's what you want to hear, rate it for understatement that it is.