Billy, it is perfectly reasonable to use well in excess of $1 per tonne. They have a high % of hard coking coal and most of it is near surface making for open cut mines. If they can prove up say 300 million tonnes in this next resource upgrade that is supposed to be out soon (on about 10% of their land holding) then a final resource of 3 billion tonnes would not be unreasonable. At a more realistic $3 per tonne you'd get a market cap of $9 billion or $60 per share. Profit wise of course they'd be looking at making an average of 10 times that per tonne so the sky really is the limit. That is why I wouldn't be accepting $20 a share at this time and will be eagerly anticipating the resource up grade.
RIV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
