RE: Wow 92.7m tons reserve base!!17 Jun 2022 13:29
SS have you got a link as to why underground mining is not profitable? Seems a weird statement to make considering the company launched the IPO with the intention to only underground mine. Check the admission documents and with the price of met coal around 227 dollars per ST.
Recoverable coal was marked at 2.336 million tons mined over a 7 year period.
It looks like the new report has increased recoverable coal now to 12 times that number. What’s there to be critical at there? Plus no doubt as time passes the company will look for other mining opportunities that may arise. Growth of the company doesn’t stop here, as Adam said yesterday “This is where it starts”.
The fact the mining contractor advised that the fastest way to get the coal out would be by HWM so the company has opted for that route and now instead of taking 7 years to mine the creek it will be more like 3.
The rail spur took longer than anticipated but you have to factor location and the safety aspects. Show me a project that doesn’t overrun. However it’s up and running and the trains are departing fully fast flood loaded. Saving the train company days of downtime with traditional scoop filling. They like that, it’s attractive to them as their rolling stock is moving and they are making money.
The 6 month accounts aren’t going to include the rail shipments probably but they will get a mention. Anyone losing their shiite over the first 6 months accounts shouldn’t be investing. Stick to the horses.
Production started early. Delivery started early. The resource has been upgraded x 12. 3 trains this month done. Dividends promised. I hope not too much money was lost by those panicking over a resource growing twelve times but AIM is a funny old place.
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