valuation

It is obvious now that ARH will be granted further tonnage on the southern block by PP. iF 1 billion tonnes in situ is worth 1.3 billion dollars or $1.30 per tonne then 6 billion tonnes is worth $7.8 billion.

3 billion tonnes is obviously worth $3.9 billion dollars.

CITIC have paid around 21.5 cents per tonne $US just for the right to prove up 1 billion tonnes.

$3.9 billion at say 500 million issued shares ( assuming a number of capital raisings post consolidation) implies a value of $7.80 per share or 78 cents pre consolidation.
All theoretical of course, apart from the citic payment but all looks very promising.