A new announcement yesterday by OBL said it has a CSM play from a number of established coal layers under its block 5/07-8 EP in the Canning - next door to REY.
OBL have appointed Westby, a noted independent WA coal expert to verify not merely the existence of the coal - which appears known - but the CSM potential itself.
A pertinent question therefore is whether the REY coal is truly economic to wash (where, despite the cyclone, is the water coming from?)and then to ship out via $600M+ of infrastructure or whether the bids (including from a significant shareholder) are for the real potential REY has - CSM. Perhaps the boys next door have it right. And they are much cheaper to buy!
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