30 years of underground mining project is only cost A$250m?
The project consists of developing two declines and a vertical ventilation shaft to intersect the coal seam.
The vertical is expected to be 150 m deep and the declines of approximate cross section area of 19 m2 are in the region of 750 m ....
I think IRL needs at least A$50 million to develop the mining and infrastructure. The rest A$200M to pay interests & 30 years of labour costs, Once Aussie dollar drops to 75c against USD (Most likely case for long term run) This would be a Negative profit project IMV.
IRL Price at posting:
1.3¢ Sentiment: Sell Disclosure: Not Held