Surprise, surprise, one of Nathan McMahon's companies and guess which director has been backing in the truck for more on-market buys!
On paper and facts presented, this looks incredibly cheap.
Why hasn't it gone up like a rocket yet? My thoughts and possible explanations:
1. Why has vendor sold 75% of a potentially monster resource for only 500k?
2. Due diligence still being conducted by HDG until 2 May 2011 before agreement is finalised
3. Is coal export quality?
Notwithstanding these, still incredibly cheap.
Surprise, surprise, one of Nathan McMahon's companies and guess...
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