it is now officially on the boil, page-8

nyc - great to see hey! - what ever you are doing with your shifts - keep doing it - it's working!

bahar - if you had your house money on this today your just got an extra room for free!!!

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I don't think the ball has even started rolling yet...

As DJC said (without any allowance for a further resource increase - just with the potential alone)...

1) NMR has the lowest EV/resource tonne partly because it has located a huge resource, but also in their view, because the market hasn't recognized the value of Nimrodel

2) Peer group comparisons suggest a value for NMR of $71m, implying $0.17 per share - a 400% premium to the current price. The market is only valuing NMR as if it had found 500Mt of coal similar to the coal AVA, HDG, and AFR have.

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How many more positive hints can we get from NMR and DJC about the chance of a resource increase!

Yes - all of this is tempered by "these are forward looking statements...etc", but it is all worded very much like they are happy with what has been found.

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From NIMRODEL - 24/10/2011

"the RC rig has completed nine holes (P1_1 through P1_9 in the Figure 2) with all holes encountering the first coal horizon and depths ranging from 65m to 80m"

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From NIMRODEL - 23/12/2011

"Phase 2 drilling at Takatokwane South is expected to build on the company’s Maiden Inferred JORC Resource of 4.23 billion tonnes of coal at the Takatokwane Coal Project"

"We believe the drill program at Takatokwane South has the potential to significantly add to our current resource base of 4.23 billion tonnes of coal.”

"It is planned that the infill drilling will be sufficient for an extension to the existing Inferred Resource estimation"

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From DJC Report.... (also have a look at figure 7 - and see how the coal is trending straight into the southern holdings)

"We believe further drilling from this area will provide additional resource tonnes and indications are that this area has the best coal quality data."

"We look for upgrade to this once drill results are forthcoming from Phase II"

"Current coal data from the drilling suggests that the better portions of the resource occur at the south-eastern edge of the resource envelope (tenement boundary), raising the prospectivity on the northern side of the Takatokwane South tenement located immediately to the south."

"we expect NMR to make further positive announcements with respect to coal identification in the area as drilling progresses"

"will likely contain the resource extensions to the south from the recent Takatokwane resource estimate"

"We believe the prospectivity of finding additional coal resources in the south east extensions to the existing resource in PL150/2009 is very high"

"This zone has high yield values and is likely to be an area that realises a good quality coal product."

"drilling will focus initially on the south east extensions of the Takatokwane resource"

"coal has already been identified in the drilling done to date on the south east extension to the existing resource"

"will likely consist of infill drilling to a sufficient density to allow for resource estimation over the higher quality parts of the resource and into the adjoining tenements to the south"

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Yes - DJC are a broker - but NMR does sound good. At least as good as NMR peers - if that is anything to go by.

I do not think they would bother mapping and drilling infill holes if they found nothing of significant interest.

I will try and get on and do some estimates on the release of drill results - based on the times taken in the first lot sent through to ACT (Pretoria).


DYOR!

bsh