HUN paid $40m RIO's Altai Nuurs project. Altai Nuurs is near HUN's Aar Zuul, (right next door to the new ROB project)
Altai Nuurs was 46,000 hectares, 250-500mt exploration target, had 20,000m drill completed and coal testing showed 7500kcal/8.5 CSN coking coal.
RIO sold it because it probably needs mine gate sales to make it work, it's about 250km from the border.
it was $40m dollars.
Aar Zuul (the next door project) has 5500-7000kcal coal, 200mt exploration target and is 300km from the border.
it's got to be worth less than $40m, maybe $30m??
at 3c ROB's diluted market cap is already $25m, not including the raising need for exploration money. they haven't inked a deal yet and don't know if there's a decent size (200-500mt) exploration target. It would want to be a cracking prospect to get it to 5c (or $42m)
ROB Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
