rupert
Yes...its well publicised that the Valley has coal to last thousands of years, JORC or otherwise-as you pointed out.
But lets be honest. It's not all ESI's. None of it has been allocated to ESI yet. At this stage ESI doesnt have a site to build a plant let alone any coal to process. In fact, ESI doesnt even own the IP!
I guess this explains why the share price is 1.7c and not $1.70 (like its competitor WEC).
But when the IP is acquired, a site is secured, Im quite confident ESI will also be allocated coal...hopefully enough to fulfill the Chinese order (40m tonnes of brown coal/year for 20 years).
$1bn at risk if state does not release coal, page-11
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