jorc code and what fridays announcement means, page-10

A Coal Reserve is the economically mineable part of a Measured or Indicated Coal Resource at the time of reporting. It includes diluting materials and allowances for losses that may occur when the coal is mined.

A Probable Coal Reserve is the economically mineable part of an Indicated, and in some circumstances, Measured Coal Resource.

Source

We have 1.1Bt indicated resource, with a probable coal reserve of 302Mt (probable because we don't have a buyer yet).

Compare these figures to Felix Resources Yarrabee mine in Queensland’s Bowen Basin which as at December 2008, resources were 117.2Mt and reserves are 27.5Mt with 1.8Mt pa production. This is NOT a comparison of company SP, Technicals or Fundamentals, just a comparison of resources/reserves.

IMO this announcement reduces more risk, ticks more boxes on the way to production. With a probable coal reserve, RES can now complete the BFS. Main concerns now are the Mining Rights Application and finding a buyer.