After reading the prespectus IMHO I have come to the conclusion that there is no real value here for current ROB shers, 1) The promotors hold 30% of the Mongo licences at very little cost to them. 2) After folding this failed IPO into the ROB shell, all funding for the proving up of any coal is to be funded by a SPP, rights issue or option exercising. 3), CPS having failed in their IPO come into screeds of options for their new efforts. 4) What convincing coal analysis's report is available to convince current shers at the EGM that this is the best use of their shell. Coal may be on the rise again but IMHO there are companies further down the JORC track worth investing in that have had their SP beaten down to billyo and this is fron a top 20 sher who has been on board for some 5 years now.
ROB Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
