Ann: Meteor Downs South Open Cut Project Evaluati, page-6

re: Ann: Meteor Downs South Open Cut Project ... Sharejon,

MDS NPV is now worth approx $1.40/share
So add to this:
- Rockwood upside +700mt PCI
- Coking coal assets
- Orion Downs

I think a low ball takeover is increasing unlikely.

MDS should be able to achieve offtake quite easily or alternatively can go for arrangement to fill in excess port capacity. Having a very experienced MD and Board that were in the Bowen from the beginning is a real positive.

Look out for updated broker reports as I think the ST 90c target coould double by July.