hawsons is the superior project, page-18

Damn right it's undervalued!

Another sale in the Galilee Basin yesterday.

7.9Bt sold for $2.3B @ 29c/tonne.

http://www.theaustralian.com.au/business/mining-energy/gvk-power-to-buy-hancock-prospecting-mines-for-us24bn/story-e6frg9e6-1226076445179

I must stress that Hughenden is still probably around 18 months off from being sold, but this is as good a reason as ever to buy CAP now and watch the share price appreciate over time as the iron and coal prospects gain traction.

As for the BMG transaction, well that most likely won't happen, because sooner or later CAP are going to cut their ties with them. The JV clearly isn't working, and it would be of CAP's benefit to either go it alone and find a strategic partner along the way, or line up a renewed JV with a company that wants to pull their own weight.