price target, page-5

AQC has several mature assets these include the Rio Tinto JV covering five EPC, the Cuesta coal carried interest covering four EPC's, one with JORC resource and several advance coal exploration projects owned 100% by AQC.
These include the Cooroorah project EPC 1827 adjacent to the Jellinbah mine and abutted by the Peabody coal MDL 162 Sold for +$400M, the Dingo project EPC 1859 adjacent to Bandanna coal JORC advanced Dingo project, Churchyard creek and Mt Steward recently drilled surrounded by Xstrata and abutting Aquila Resources with 108 MT JORC resource also Bluff and Carlo creek projects to mention but a few.

AQC would have a number of options to raise further capital if and when required, I would rather have hard assets that can be value added than issuing further shares causing dilution.