hope the indian's remember this slide

Funny how RIV's Directors have changed their opinion on the inherent value of their coal. This is from a September 2010 report summarised in words - the graph is even more dramatic.

"RIV's value of coal is 0.13 cents per tonne compared to a transaction average of $3.03 of other major coal companies". - Yes that's $3.03

RIV's share price at the time was $9.49.

So RIO want to get RIV for a value of less than 0.25 cents per tonne. Someone is pulling someone's leg even when the existing project risks are taken into account.