Spot on Alph, and at $2 that is still only around $0.27/t for the resource, and that is assuming we 'only' have 1.2BT.
Whilst there are a few comapnies who have coal at less than 27c in the ground there have been virtually no cororate transactions done in the last 1-2 yrs at less than 25c/t and most seem to have been around 50c/t (okay, I am excluding Noble's buy in to EER!).
And the updated resource statement due within the next 2 weeks or so could add a few more 100mt.
And the MDL application is underway.
So yes, lots of upside still.
EER Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
