well...i doubt Banpu (who acquired HUN) are interested in...

well...i doubt Banpu (who acquired HUN) are interested in exploration drilling so they may possibly farm out the ex-HUN ground to ROB

HUN were set to start drilling as the takeover occurred

Banpu took over HUN for the JORCed & production ready deposits

HUN had a 70% equity position in Zun Gol & AR Zun Gol and exploration target of 150mt to 250mt tonnes (with old reports having yield of about 50% on limited samples)

however, it could cost ROB 400m to 500m shares (who knows)

issuing 500m shares to Banpu would make the market cap $26m after the reconstuction (less $3.3m in options cash and less $3m in cash raised)

so the EV is $20m chasing say 120mt of recoverable coal

EV = 17 cents per tonne

key is the coal quality

regards