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Buyers drawn to a new shine on coal

MINING success stories are generally full of colour. Just ask experienced financial backers Michael Addison and Simon Kidston who once tracked down a prawn fisherman to convince him to sell them coal tenements, which were developed into an asset the Chinese bought for $75 million.

Addison, who was a Rhodes Scholar at Oxford University with Tony Abbott and has a rich history in merchant banking, teamed up with Kidston 10 years ago to target opportunities they could flip from prospects into sought-after assets.

Source: The Australian