what's happening cgv?, page-9

Also, mining coal at 450m is not a big issue, its been done around Wollongong NSW for years.

For premium hard coking coal fetching $300/t, sure. Not for Surat-grade thermal. It's not a technical problem, it's an economic one.

Surat coal is available at surface - same quality, same thickness, no CSG. It's also available at all depths between surface and 450m. So why would any investor buy in to a Surat project at 450m?

Even the costs of drilling to 500m are an order of magnitude higher than drilling to 100m. This proposed drilling program is going to be a complete waste of shareholders' money IMO.

I don't know as much about the Bowen stuff but there is probably some info on QDEX from previous owners - if anyone has actually bothered to drill for Bowen coal at 500m+. It might be PCI but unless you get some really thick seam intersections it doesn't sound enticing. Have to wonder why they consider the Surat their lead project over that though?

They need to get off their backsides and do something with the assets they have or find another lead project.

I agree totally, I just don't see how they can afford a new lead project. Especially if they are going to be spending probably over $100,000 a hole drilling their coal tenements.

It's a big problem that I don't see any easy solution for.