12m mc, 3m cash, 400mt jorc!! 2bt target!!, page-41

shabandri, please, PLEASE re-read the announcement. You have confused the options up a bit.

Let me set it out simply here, and you can read my post at the top of the thread if you want a good explanation.

Prospect 1 (with the JORC)
75% interest for $3.5M
99% interest for what I estimate to be about $30M

Prospect 2
90% interest for $70M total

As for the coal, well on the AVA board I've seen you discussing $40 margin export coal sales, and AVA's product is about half the quality of HDG's. So if you believe AVA can sell an export product, then HDG will more than qualify going by your criteria.

Regardless, further up this thread I have an email from the managing director who claims that HDG's coal can be partially produced as a Grade A (Newcastle) product.

By the way, LOL, that table you copied is particuarly decieving. Any misinformed investor would look at it and wonder helplessly. Nowhere in the table is AVA's atrocious grades on it's raw coal shown.

AVA have 11MJ/kg and 52% ash in the ground.
AFR have 18MJ/kg and 22% ash in the ground.
HDG have 19-20 MJ/kg and 25%-30% ash in the ground.

Ash is bad! And notice the huge gulf in calorifc value between AVA's coal, and AFR's/HDG's coal?

You would have to burn almost twice as much of AVA's coal in the ground before you got close to the productivity of AFR's/HDG's coal in the ground.

Oh and by the way, AVA's market cap is $30M while HDG's is $18M.