chip away, page-35

Boof,

my numbers were as an example that having A LOT OF SOMETHING doesn't necessarily mean you will make money.

Perhaps you have forgotten the scoping study results already... sigh..

JML..

if you look back a long long way you will find my post from around the time of the original resource upgrade where I stated most of the same points.

Think the SP was around .05 at the time..

Just as a hint to you both, look at the scoping study, done in april 2012. they modelled 'cashflow' positive but wouldn't provide numbers, meaning they were 'slim' then.

Now check the price of coal February/march 2012 (the price basis for the scoping study) around $110-$120 per tonne (AUD) or around $20-30 /tonne more than the current price.

So mildly positive cashflow, giving no IRR, ROI or NPV values on a coal price which was far higher than today's price.

I would be basing all my valuations on NMR on cash held + specimens reef potential.. which in reality is actually pretty good. I like the ground they have there.