- the coking coal has been given more prominence than previous. with 40m coal seams i think this is 100% the right choice. the 750mt+ statement is first time we have seen any statement which they must feel confident on given how drilling is looking. i called company on friday to ask about this and said there were 3 drill rigs on site which in my mind answers the question,
- a resource approaching 1bt would be world class...a key will to be see quality in terms of proportion of different coking coal and quality (it could be a massive rerate as broker reports indicted potential for significant uplift and size of this initial zone sounds to have exceeded any earlier expectations),
- look to be progressing thermal coal as short term cash cow with JVs with larger coal companies (eg. Total) and coking resource as monster to come in later
Hopefully we get some detailed drill results soon on coking coal as would think an indicated resources would still be 2-3 months away on initial target zone.
Feeling really good about this stock that management are getting on with quickly progressing projects. We have enough projects for a multi-bag uplift if management can deliver and coal markets remain firm.
Good weekend to all......
UNV Price at posting:
50.0¢ Sentiment: LT Buy Disclosure: Held
