Ann: Winchester South Coal Resources and Reserves, page-35

Winchester

Winchester.

I don't want to jinx whc as it's producing assets are top notch for some time yet. The Winchester project is a good one, a really good one. The economics will need to stack up for it to get the green light. It's being held one the borderline by the strip ratio and railing capacity of surrounding mines. As soon as the surrounding mines have a high strip ratio, they will have difficulty competing with whc. The whc strip ratio is 5.3??? That's pretty good compared to BMA next door, who's strip ratio is rising every year.

Pembroke resources have Olive Downs next door to whc and they've got the green light to build. Pembroke will suck up labour and rail capacity for the next 18-24 months. Stanmore has Isaac South extension to build, Lake Vermont to the south wants to open an underground face to the north of their operations, BMA is presently reopening Norwich Park as "Saraji South" That'll give at least some clue as to timeframe, ie not for a couple of year yet... but, it's a good deposit, in a real good position... It's very good real estate, very good.