Maybe... the problem is, who is going to buy a stake in the coal before the resource gets proved up? And that is going to cost a lot of money unfortunately. We're talking dozens of wells to be drilled to prove these 30m seams are continuous, shallow, and laterally extensive.
Maybe what they need to do is spin off Merlin so that each part of the business succeeds or fails on its own merits, and investors can choose which one (or both) they want to be in.
let's keep it real , page-28
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