please explain?, page-3

The other thing to note regarding Shaws 90c valuation was that they were seemingly placing no value whatsoever on RES', Tasmania or Cameroon assets. That looks to be a huge oversight.

Tasmania has an exploration target of 240-300mT, reasonable to good quality bituminous coal, with existing infrastructure and port options. There's considerably less sovereign risk in Tassie when compared to South Africa. What I can remember of the area where the tenements are located, is that they are of low ecological value, and shouldn't incur the wrath of the local greenies when they are developed. I don't think its unreasonable to value those assets at 90c/share themselves.
I know they have had a drilling program earmarked for Tassie for sometime. Would be great to see work commence.

Cameroon assets, not sure what value to attribute there but would suggest a good look at Sundance's assets might offer some clues.