remember that CME has an agreement to acquire a massive coal project in South Africa with reserves of over 130 million tonnes and potential for up to 1 billion tonnes of coal at a bargain basement price of 20c per tonnel of coal.
CME's timetable was for the deal to be completed in the fourth quarter, so not long to wait now.
Because this deal was struck before the surge in coal/iron ore prices it would have to be one of the deals of the century at a cost of just 20c per tonne.
When compared to its Australian coal peers it would have to be the one of the most undervalued in terms of shareprice versus coal reserves.
Remember with China going from exporter to importer of coal the price will continue to surge, also they are currently closing down 100's of illegal coal mines in China putting furter upward pressure on prices.
CME
centralian minerals limited
massive coal deal
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