6-18 billion tonnes coal, sh life change oppo, page-24

(continues...)

So the key difference between BND and NSL is the resource bases, is the development stage.

As I said in my previous post, BND soared from 20c to $1.4 in 2007,but was 78c yesterday(after 3 year's development).

Just because the project has moved into "very high risk stage", BND's development strategy is wrong imv-select to develop such huge project by itself in last 3 years.

NSL's coal project is at very initial stage-the stage where BND soared 700% --the resource defination stage is just the highest reward stage for SHs.

NSL's resource Target is 6-18 billion thermal coal, the resource base is not at same order of magnitude as BND.

The Geologist’s Report at EPC Applications 2336, 2337, 2338,should be taken as "global major coal discovery" in 2011. The report has potential to increase AUS's total coal reserve by 20%.

Too good to be ture? Yes, but:

NSL announced:

1, there is considerable evidence to support the current Exploration Tonnage calculations.

2, the sufficient coal thicknesses interpreted from historical drilling warrant further investigation.

3, Total 88 historical holes drilled in the northern section of this project area and south of the project area.

(so what's in the middle?)

4, These holes (88 holes) were analysed and a cumulative thickness assigned of 8.5m for the Winton Formation.

(Underlying all the these holes encountered coal seam)

5, There is sufficient seismic data to run a full seismic study of this area.

6, The quality of these holes indicates a thermal coal
product--from 88 holes.

regards