Well..I personally feel that WAL are still well and truely under...

Well..I personally feel that WAL are still well and truely under the radar. Its clear that the Dysart property could be a company maker.

"Work completed to date confirms that all of the tenements have a good coal exploration environment, especially the Dysart property in the northern Bowen Basin which has strong potential for significant coal discovery."

The location and discoveries on this license alone tell me that we should be trading a lot higher purely off speculation. There is no value being added yet from these licenses.

See Image for EPC 1067



"Exploration Permit EPC 1067 (Dysart) is south of and along strike from the BHP Billiton Mitsubishi Alliance (BMA) Saraji open cut coal mine. Similarly, the proposed BMA Lotus and South Lotus and Campbell open cut coal mines are located immediately southeast of EPC 1067. Mining Leases ML 70294 (Hakea West), 70298 (Hakea South), 70328 (Tay Glen) overly the eastern boundary of EPC 1067."

Add to the above license the following

"EPC 1958 "Blackwater", EPC 1897 "Waterpark" and Exploration Permit Applications EPC 2264 and EPC 2265 near Gayndah in the Queensland coalfields."

Summary provided below from the recent announcement titled "Wavenet Queensland Coal Projects Update"

"The following are considered excellent reasons for Wavenet to be well placed in the coal industry:

The Dysart Coking Coal Project is adjacent to the BHP Billiton Mitsubishi Alliance (BMA) Saraji open cut coal mine and proposed Lotus, Lotus South and
Campbell open cuts in the northern Bowen Basin.

The Blackwater Coking Coal Project is down dip from the Ensham coal resource and southwest of the Ensham operating coal mine (Ensham Resources Pty Ltd and Idemitsu Australia Resources Pty Ltd) in the Central Bowen Basin southeast
of Emerald.

The Gayndah Coal Project is adjacent to the historic surface coal seams of the Gayndah Beds near the settlement of Gayndah west of the Maryborough Basin.

The Waterpark Coal Project is within a small Tertiary coal basin where very thick seams were intercepted in historical regional drilling of the Rockhampton district near Yeppoon."

Now..are we undervalued? You decide.

Shares on issue : 59,348,958
Current Market Cap : $28.5 million

Cash as per last quarterly : 4.273 million
CLR shares currently owned : 16,141,550

CLR currently closed at $1.79 today.

CLR valued at 28.89 million.

Bit of a joke fellas. Still trading under Cash + CLR backing.

We could potentially gain an additional 7.4 million CLR shares upon granting of EPC 1175 to Carabella.

If CLR continue to move up then thats great but as fiendiesh has stated..WAL can add a lot of value with their own projects. IMO WAL has many different aspects to it that could lead to a major re-rate.