Patersons coal...

Patersons coal research:
http://www.stanmorecoal.com.au/HTMLContent/images/Patersons%20Report%20-%20August%202010.pdf


The above was released in August, and Patersons rated GLL as a spec buy:

Galilee Energy (GLL) SPEC BUY. GLL is a company focusing on its CSG projects in the Galilee
Basin but it has a profitable coal mining subsidiary in New Zealand. We recently visited the operations
and projects. The mines are small scale but efficient and have good prospects for future growth. The
Whareatea project has coking coal, JORC resources of 23Mt, and could be as big 1Mtpa.


In particular, if the market rates GLL as a consistent producer for it's coal operations.. based on the graph included in that GLL is priced at about 66c/tonne for EV per measured and indicated resources.

If we moved even half way up the steep incline that follows to say, $3 per tonne. That would be a 4.54 increase in EV.

If that translated to a corresponding share price increase from the august lows of 16.5c, we'd be looking at a target of 75c, which is certainly achievable IMO.