Bulltearer you are right.Remember last year when Nathan Tinkler!s Aston Resources paid the Rio Tinto Subsidiary Coal & Allied $480million for ownership of the undeveloped Maules Creek coal project in NSW!s Gunnedah Basin.Ten months later Aston flipped out a 15% share in the project to Japanese trading house(Itochu)for $345 million,valuing 100% of the project at $2.29 billion or a near five fold increase on its acquisition cost.(Tinkler laughted all the way to the Bank, no wonder he can buy the Jets/Knights sporting bodies).Tinkler turned his coal tenents into gold and Xstrata will do the same with this acquisition from Exco.
EXS Price at posting:
70.5¢ Sentiment: LT Buy Disclosure: Held