jorc code and what fridays announcement means, page-12

Pd - thanks for the post, I hope it clears a few things up for those people that may have been expecting a bigger number. This was always going to be a small number but a bankable one!
The key to this i believe is that since the quality is not great then we need LOTS of it - and for it to be cheap to extract. We certainly know we have more than enough coal seams and only around 20m of overburden makes this a cheap operation.

Take a look at this site from Geoscience Australia;
http://www.australianminesatlas.gov.au/aimr/class.jsp
Similar information - but more generic across mining industry.
"For coal, different terms are used – 'Recoverable coal resources' is used when allowance has been made for mining losses only. 'Saleable coal' is used when allowance has been made for mining as well as processing losses."

Hopefully this week can see some forward movement in sp as i am getting pretty sick of all the positive sentiments about major holders, the increase in volumes and for what? - i know it is a short timeframe but i would really feel more comfortable with this being where it should and no longer sold down for the sake of a few latecomers.

Regards...Maxi.