the cheapest coal on the asx..................

Nice work Novac!

"Lets talk coal, as I still pinch myself to the room for growth in the share price.

CZA - Have a market cap of $1.2 Billion and hope to prove up 2 Billion tonnes of coal, they have some coking coal also. They hope to produce in 12-18 months from memory.

So 1.2/2 = 60c per tonne.
They are more advanced but are in South Africa so there is political risk.

Now if MNM's coal was valued at 60c per tonne, mind you the 2 billion figure hasn't been proven up yet, MNM's market cap would be;

438Mt x .060 = $263m
263/83m shares = $3.17.

Lets half the per tonne value to 30c which is conservative

263/2 = $132m
132/83 = $1.59 per share

This gives you an indication of what the coal is potentially worth and this excludes the 290k gold JORC and Phosphate potential.

Our current share price is 32c
Quite a few 32's go into $1.59, 5 to be exact.

The oppies offer great leverage.
Conmpany says we should have a JORC on Coal by December 08.

Good luck to all who hold. Don't listen to anyone about the phosphate for the fact that it's not drilled to date and nearology to MAK means nothing. It's the coal alone that should be driving this and the phosphate should be a nice bonus."