WHC 3.60% $6.91 whitehaven coal limited

I am surprised that WHC haven't incurred a speeding ticket for...

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  1. 121 Posts.
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    I am surprised that WHC haven't incurred a speeding ticket for that JORC Resource statement.
    - Public reporting of Inventory Coal (not allowed by JORC or the Coal Guidelines).
    - No reporting of seam thickness/thickness range.
    - Limited and under-reporting of available coal quality data (e.g. no raw CSN reported despite assertion of coking product).
    - IMO inadequate justification of cut-off depth for surface mining resources - appears a nominal depth was selected. Prior Rio Tinto justification for depth cutoff for surface resource reporting was a Lerchs-Grossman optimised pit shell open cut with at least breakeven economics.
    - No reporting of yields or product coal quality data despite proposing a coking and thermal coal product.
    - Use of nominal / superceded Black Coal Guidelines spacing for points of observation without adequate justification of spacing considering both seam thickness / continuity and variations as well as quality variations
    - JORC categorisation amalgamated for all included seams and no split out by seam and categorisation
    Last edited by Tricar: 05/11/18
 
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