strategic partner for 946?, page-4

UBS Initial Broker Report out....

They have a target of $ 9+.......based on a coking coal price of.....$115!!! Well, I believe that figure is conservative.

In addition, they see an addition $10 value for 946 if the barging option is successful. I'll go and dig out the river with a shovel for that.

The 946 / barging will be the big value driver, as the only constraint on RIV is the infra; they have the high quality coking resource in the BILLIONS of tonnes. I think few have stopped to realise that we are talking Billions and not Millions.

I'm still looking for some update to the POSCO investment, as referred to previously.

Good Luck long-term holders, and always DYOR.

Cheers, Skip