re: Ann: Targeting Coking Coal in South Weste... DJ1 - would you...

re: Ann: Targeting Coking Coal in South Weste...
DJ1 - would you prefer it if they had very little cash and acquired some coal tenements by doubling the number of shares on issue and giving away cash.

You have to remember they have $46m cash in the bank because they got a prospective resource in china built it up and then sold it. So they have a track record of actually doing something positive.

They have been granted 1 tenement of a prospective 5. There are plenty of coal plays in Aust that are in the Bowen basin without a Jorc res that are valued in the $20-$40m plus bracket. Here we are in a strategically located area on the doorstep of china and it's not worth much.