Finally, they have the initial JORC compliant resource of 7.3 million tonnes (worth $1.4B. compare to the MC $17M), majority high quality cooking coal. They are on the right truck to be a producer. More exploration coming in the next couple of month, more reserve will be confirmed.
Management...
Very good project compare to the Market Cap @ 15M
High quality premium coking coal
Initial production target 850Kpa Coking Coal + 150kpa Thermal Coal
Current price Coking coal $200/ton, Thermal coal $100/ton
Renevue 850k*200+150k*100=190M
Operating cost $55-70/t, take the higher cost...
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