I've focussed my attention on EERs' resource and market cap because the washed products are similar.
EERs' seams on average are only half that of NMRs' and at similar depths. EER washed c/v=19 to 20 mj/kg (table 7.1 ann 7jun) v's NMR washed 23 mj/kg (table 2 ann 16nov.)
EER jorc (unwashed) 459 millin tonnes v's NMR (washed) of 2,394 million tonne.
Both are drilling to expand, EER are exploring to the north and NMR to the south and east.
If EERs' resource is unlikely to be commercially viable, why would Noble group have a 30.46% stake(ann 2aug)?
Huge disparity between market caps, EER minus cash = 42 million, NMR minus = cash 16.5 million
Thoughts welcome!
NMR Price at posting:
5.9¢ Sentiment: LT Buy Disclosure: Held
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