There is lots of similar quality coal being sold. Especially internally in China and India, as they have the major coal needs, as well as being exported to india/china.
The problem is at the current market prices, I can't see this being economically viable.
Seam thickness I would be curious to know how they are defining it. usually they can report two ways, either with or without expected mining fractions. Industry standard is to go 10% outside each side of the seam, to get maximum recovery, some companies try to report the seam as the total including the 20% (10% either side) which would give this a far lower washability and thus far higher cost/tonne, or on the other hand, without the 20%, it would be a more accurate analysis which could prove viability.
I think if China/India feel they can get the right price for this coal, they will build the infrastructure required. Both nations need to constantly be looking for new resources, so its definetely a possibility.
The only reason i warn based on cost/tonne is this: if you have a feasibility at $2-5/tonne (24billion mine worth), any change in coal price, due to economic slow down, would change this from a resource to barren field, with all the fear in the market, commodity prices could very well fall and turn this from a great opportunity to a bankrupt company.
DYOR.
NMR Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
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