Also as per the RNS, the core holes haven’t even been taken into...

Also as per the RNS, the core holes haven’t even been taken into account yet. The upgrade is largely off the seismic, further review of reserves will come when the desorption testing of cores is concluded and we will also see a review of contingent resources also.

More to come.

“The Reserves assessment received from SRK represents an updated independent certification that is based on SRK's review of exploration activities conducted in 2017 (comprising the ~260 km 2D seismic survey and thickness data but not yet gas compositions from two new core-holes) and, consistent with the prior Reserves assessments (announced to the market on 12 October 2016 and 15 February 2017 respectively), relates only to the Lower Morupule coal seam. It should be noted that the final gas and coal analysis of the three recently drilled core-holes have not yet been incorporated in this Reserves assessment whilst the samples continue to be analysed. SRK considers the preliminary gas results suggest there will be no material impact (other than improved confirmation) when the final data is available.


The current Reserves assessment by SRK (which is the subject of this announcement) does not include an updated review and assessment of Contingent Resources in the Lesedi or Mamba Project areas, which will be the subject of a later review. As such, the Contingent Resources of the Company (as assessed by SRK in 2015) and shown in Table 2 below in accordance with ASX Listing Rule 5.25.3, have been amended by SRK to deduct the volume of prior Contingent Resources converted to the Reserves category.”