OK the Vasse coal project is JORC 116 million tonnes permian coal.
From Wikipedia http://en.wikipedia.org/wiki/Bitumin...#Permian_Coals
The second largest deposits of the world's bituminous coal is contained within Permian strata in Russia and also in the Bowen Basin in Queensland, Australia, as well as in the Sydney Basin and Perth Basin where thicknesses in excess of 300m are known. Current reserves and resources are projected to last for over 200 years.
Australia exports the vast majority of its coal for coking and steel making in Japan. Certain Australian coals are the best in the world for these purposes, requiring little to no blending. Some bituminous coals from the Permian and Triassic in Australia are also the most suitable for cracking into oil.
Vast deposits of oil shale exist in the Permian sediments of Queensland.
From the company announcement.
High energy, low ash, very low impurity coal for energy and steel making markets in Europe and Asia
Lets say a conservative price of US$40 per tonne
116 million * US$40 = just over $4 billion value.
So lets say they sold for 10% of that value........$400 (announcement did not mention a figure) and Hudson owned 25% of the project.
So Hudson gets $100 million plus a royalty
100 million shares on issue
Shares closed at 14.5c on Monday!