re: Ann: Belvedere Coal Project Receives Sign... The timing of this event seems exquisite! Next month Vale's option to purchase Aquila's remaining 24.5% of the project that it does not already own is triggered. I believe Vale now owns 51% and AMCI owns the other 24.5% (also subject to the option arrangement).
The purchase price is to be at "market value". The following link is to the Aquila website and describes this asset's fundamentals...
http://www.aquilaresources.com.au/go/projects/coal/belvedere-coal-project
It is interesting to note the mention in today's ministerial statement of the coal seam gas present in the hard coking coal resource, and the requirement to tap that resource as part of the project eg. power station. It can only add to the current valuation in the event Vale exercises its option. Given development of metallurgical coal as an increasing part of their business is a strategic objective of Vale, it is hard to see the option not being exercised IMHO.
regards
DF
Ann: Belvedere Coal Project Receives Significant , page-2
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