Mahoney, I know all about GUF. Yep, Avery to be paid up to $100 million if the company gets to 500mt indicated resource. $20m per 100mt. Ludicrous! His company also gets $2.5m per annum as well. Near term, BND is definitely appealing but if you look longer out Metrocoal has much more upside based on its near 4 billion tonne resource thus far (3.1bt in its own right). If and when 3TL becomes feasible and if and when it's all going ahead you can be assured that MTE will be re-rated to the upside. Metrocoal has the biggest thermal coal resource of any ASX Queensland/NSW coal explorer. MTE wIll not be trading on the ASX if 3TL goes ahead. Yancoal is next door at Cameby Downs with an approximate 1 million tonne port capacity at the Port of Brisbane. An extra 15-30 million tonne port allocatiion next door to Wiggins Island would one in handy. You can work out the rest? What's MTE's market cap?
MTE Price at posting:
48.0¢ Sentiment: LT Buy Disclosure: Held
