through 6 bucks boys.., page-9

the simple way to look at the value-

Rivs is sitting on a minimum of 2billion tonnes. Management reckon its potentially 5-7billion tonnes according to Bloomberg article.
One of the latest deals done in Russia worked out at about $3 per tonne with an operating mine at 9m tonnes pa.
Lets assume only $2 per tonne?

$2 x2b tonnes = $4b market cap or $20 per share. This is actually discounting the fact that its not in production. This might take 18 months to prove up. They have already told the market its the next next Bowen Basin and the stock is still cheap regardless. dyor as these are only really rough numbers etc.