Interesting to note the valuation anomaly that is NMR.
NMR owns 4.2Bt of Jorc thermal coal in Botswana and is currently valued at about $16.9m Mcap at 4.0c .... NMR resource is likely to increase dramatically over the next 2 months with large drill program expanding the resource foot print (Ie step out drilling not infill).
AFR on the other hand has less coal (2.7Bt) of lower quality and is valued at $99m mcap at price at time of writing of 30c
A recent AFR research report done by Helmsec Global Securities on 17 Nov 2011 suggests a target price of $1.00 alone for AFRs Coal Asset called Sese.
So would you say that NMR is undervalued? ...Hmmm Yep massively
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