Moss, JORC reserves/resources quantity required by bankers to underpin finance are rapidly changing and should not be confused with a project quality. Waratah Coal (GalileeBasin) saw a huge bounce in share price for their first 1bn tonnes.....2 Bn tonnes small increase and virtually nothing for each Bn tonnes thereafter.
Give me 20mt close to rail, access to existing port, and reasonable quality for next 20 years ie 1mtpa........covers small Capex to get started................I'm in!! and so are the financiers!
Little fish are sweet especially in a confused or orchestrated GW/CC B**l S**t environment
Ann: Investor Presentation, page-13
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