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What is it really worth?, page-103

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Ashes86

460 Posts.

118

07/03/19

16:10

Post #: 37688018
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Originally posted by Ashes86: ↑

I’m working on between 800PJ and 1200PJ myself , now that we know it’s only for the main seam - I had been thinking they’ll drape the gas model over the entire geological model, but that’s not the case.

One of the recent corporate updates reads to me as though only geological risk will be applied and not process risk. But have not sort confirmation from the company.

Surface gasification / lab testing of coal samples has suggested 15.2GJ/t, which fed into 2C PRMS statement, and now we know the PCD results have surpassed expectations.

In reality we know that with further drilling , seismic and geophysics we will upgrade much more of the deposit to a 2P status , so I’m confident that whatever the number turns out to be it’s more than enough to start the commercial project.

There’s probably around half a billion tons of coal in PEL650, hich was the companies target JORC target in 2015.

Im sleeping easier these days than I have for last 5 years !

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that’s top end of target range I should say

LCK Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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