You seem to have a pretty good handle on where this company is going.
If say BWN does JORC up a 200 Million tonne resource this year (not too unrealistic given that they are drilling 5 projects before the end of the year), what do you think the market would value BWN at?
For what it is worth, I have seen $1.00-$2.00 per tonne used to value in ground coal resources. If that was done a drilled JORC resource could be worth between $200-$400 to BWN) or $2-$4 a share fully diluted.
Do you think we can realise this in the current market conditions, or do you think we should be assigning a lower per tonne in ground resource value? We are still in a commodities and coal boom, but at the same time equities in not cashflow companies have been sold off heavily. It is good to see that BWN is basically self funding it's exploration programme.
I would be interested in your thoughts on this and how other comparable coal explorers are perfoming, which have large prooven resources, which are not yet in production. Cockatoo is one example obviously.
I think the Indonesian coal JV could add signficicant value, but do not know any of the details, e.g. what do they want out of BWN financing, shares etc?
Kind regards
Scott
BWN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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