Sorry meant to be 860 million to a billion barrels of oil!

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reggie78

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26/06/15

22:52

Post #: 15540023
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Originally posted by reggie78 ↑

Homey,

Great analyst there, and know as i am sure others didn't, i also didn't notice the director performance rights so thanks for pointing this out, certainly provides more confidence.

Whats your thoughts on the situation now the company has not given the coal project away for a measly $15m, yet still achieved what it has today re the gold project for such a small dilution to shareholders?

For me whilst coal is not a favourable commodity right now, and exporting coal in bulk is not going to be favourable, i am glad they kept the project as a side earn for share holders in the future after all what is 6million barrels of oil approx really worth? From what i understand it is the companies belief that the CTL plant close to port there is "VERY" viable in the near future, and see a lot more value in the project than the measly $15m offered, sure it needs JV partner and $$, but from memory price per barrel was $47 so still viable at resent price of oil lows?.... Given Australia discoveries was going down and vs consumption going up the last time i looked, it provides a better use for the coal than traditional uses for bulk power....I actually bought into BLK for this reason, the gold has been the play along the way and kept me interested, credit to management for hanging on to it so close to port and industry, its a ripper project imo to have for free as a share holder if ya like as there is no current price factored into share price!

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Sorry meant to be 860 million to a billion barrels of oil!

BLK Price at posting: 16.5¢ Sentiment: None Disclosure: Held
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