Don't forget that Resource does not = economic Reserve. Inferred...

Don't forget that Resource does not = economic Reserve. Inferred Resource simply means "there is coal in the ground". Despite what may appear as moderately big Resource numbers doesn't necessarily mean conversion to Reserve - either for a specific mine layout / plan or overall if the deposit simply cannot be economically developed. My experience is that reduction of a factor between 3 to 6 of the tonnes in Indicated and Measured status Resource is a reasonable indicator. And then right sizing annual production rate is around this number divided by 10 to 15 (years of life) - otherwise you overcapitalise with capacity for a short resource life. Even with a significant Resource base (and I'll assume they have something they can make work financially at this point), BCB is still a long, long way from production - at least 4-5 years at best with State and Federal environmental approvals, grant of a mining lease then financing to allow tender & construction & mobile plant purchase/delivery (there are lead times for this stuff). So any trading over the next 4-5 years will all be on sentiment IMO.