Solid results from Epc1827 plus some further update on RIO...

Solid results from Epc1827 plus some further update on RIO should see this push easily towards the 5c mark .If they can move a half of their tonnage on 1827 to measured ie 50 m tonnes of 107m/t and then massively discounting the MacArthur deal next door from $1.80 to $0.50c tonne then you still get $25m or 4c a share for this asset alone . Even though coking coal /pci coal hasn't fallen in price percentage terms by 70% and given norton sold their sienna and Electra deposits for 50c tonne( 60m/t for $30m-refer NGF ASX announcements) which was for crappier coal then it's a good conservative place to start . That leaves the rio deal which as per my previous posts using 25% of 300m tonnes (could be more/less) then I can easily squeeze out 10c minimum for this stock. Then what is dingo worth ? I note in some research on bandanna I have seen a value of over $250m for their 96m tonne resource on dingo west, AQC does not have a jorc resource on their dingo prospect spitting distance from bandanna but looking at back of the envelope comparison AQC could have 30-50m tonnes on their dingo prospect next door on the rail line to the port. I have not ascribed any value to this as yet as there is no jorc resource as yet ( lots of previous drilling though) but let's guess there is 30m tonnes ( I reckon it will be more) then you start getting some silly upside numbers given the proximity to bandannas project and they will be obviously the same coal seams .i(J/V perhaps on the way?) 1/3 of this resource by value gets you $80m by comparison but given bandanna is worth so little atm for all its assets and is proven up I could cut this by 25% and still get another 4c for Dingo.(I think the analyst wrote this report In much happier times lol !) Bottom line is at 2.7c this has plenty of room to move. I think management could with some fresh faces given half of the board hasn't been in the country much for the last year according to my spies. Perhaps now is a good time for PB to have a long look at what sort of board would be best to unlock the value in this stock in 2013 .my final 2.7c worth is that surely there are enough loyal shareholders who are underwater in this stock that if funds were needed a deal could of been struck to fund near term drilling requirements . The Wilson HTM sophisticated investors who took over 20m shares at 3.2 c must love seeing the company give them away at half what they paid months earlier to an opportunity fund ( read churn and burn) thankfully it seams we have enough funds to achieve some potential major uplift milestones but recent management decisions appear to me quite sadistic akin to shooting oneself in the foot ! Anyone going to the AGM ? Coal is tough at the moment but I Love a contrarian view and coal is the place to be if you believe that the world cannot build 100 billion wind farms in the next 5 years.