2bln jorc coal target, page-13

yeah that's right that was in th GFC..

as far as linc goes thats the value of the deal, just with defered payments - I'm not arguing the fact that EER should be getting 30c or 17c like hancock did of GVK but a 50% discount to the hancock deal would be a fair value at 8.5c at this stage - 2c is just to cheap anyway you look at it.

as far as the quality goes i have said all along EER's coals would show synergies in blending with the Galilee coals for maximum profit or go it alone and supply to asian Fluidized bed combustion bolers - they are designed to run on lower quality stuff;

here goes;

To blend waratahs prize seams (DU and DL seams) with EER's coal at a ratio of 2 waratah tonnes to 1 EER tonnes;
(that's EER at F1.60 F/S and galilee coals at F1.50 F/S)

Coal Blending Result:
Calorific Value: 5902
Moisture: 13.00%
Ash: 8.53%
Sulphar: 0.51%

And will lift the yields from the lower range of 37% to 67% and the upper range from 74% to 77%

and will bring down the production cost.