Mitis No problem. Most coal deals have an in ground value of $2 tonne. Lets cut that in half to $1 x 3b = $3b market cap divide that 150m x = $20 easy. I would expect riversdale to have that within the next 18 months. They have already drilled 45,000m of new holes and they are going through major coal seams. Management have already stated that they reckon they have 2-3 times what CVRD have [2.5b tonnes]. This means riversdale has between 5-7.5b tonnes of coal. This would take the valuation to $40 + easy. Its the next fortescue with these numbers, yet it would still only be capped at a fraction of fmg with a more valuable resource. coking coal is trading higher and is more sort after than iron ore. please do your own research. this is my view only and will require the company to show us the tonnes.
RIV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
