relative to peers

Unv market cap is $95m - $17m in cash = $78 m

Resources - Coking coal
Berenice - 220mt , targeting +750mt by h1
Somerville - I will attribute zero mt until the vele fiasco is resolved.
Coking total 220-750mt

Resources thermal - 330mt
Total resources 550mt-1080mt thermal & coking.

Value catalyst
17m cash to drill all 46 Berenice holes, 19 already done to report upgraded resource by h1 2011.
17m to take kangala through to production
Given I have attributed zero to Somerville, we can only exceed my expectations if the regulatory issues resolves.

Looking at Akm mc of $520m, i'd challenge anyone to find a stock with a 550mt + resources, with a coking coal tilt at a mc of $78m.

Cheers