duped, page-5

Last chunk of vidoes did not inspire to much confidence given recent met coal price.

Valuations were as follows...

$130/tonne = 70 cent
$140/tonne = 95 cent
$150/tonne = 130 cent
$160/tonne = 155 cent
$170/tonne = 180 cent

Since then..... met coal has slumped more (though I think unfairly... and will rebound quicker than iron ore).

Even as a niche coal as it was spruiked... one would think that it would be at the lower end of the valuations... and seems safe to halve any broker target for a reality factor.... therefore 35 cent even on their "paid-per-view" metrics??

Perhaps this is genuine concern.... take what is offered... and they may just have something planned.

Either way.... if sale goes through.... it is a fair wad of cash (heaven forbid shares swap in some fleabag US based company)... and time is on their side to access a return or new play.

In any case.... the perceived lack of ability to deliver even on digging coal out of the ground.... does kill the trust..... so trust is now lacking as to whether they can pull of the sale too.... even if that is the best route.

Bigger money is very much in control here.

Would have liked them to hang on and try to mien... but maybe funding was not so friendly given current market.

bsh