So, a simple Mathematical-arithmetic calculation is needed to arrive at a figure well in excess of my initial estimation of 3 Billion Tonnes
As all but the most dim-witted readers will have realised by now, this only applies if the entire tenement contains JORC-suitable coal.
This is demonstrably false because we know about half of the tenement contains no coal at all (because it's eroded away) and most of the area west of the current JORC polygon will be too deep to be economic (as evidenced by their 150m cutoff).
So the fact the JORC is only 12% of the tenement area is irrelevant. From today's ann (page 9) the JORC covers about 50% of the total target area.
So if all goes well, perhaps 2Bt would be a realistic target for inferred. Obviously final marketable reserves will be nowhere near that number but, as long as it's economic, EER should have enough coal to mine 20Mtpa for decades.
Thankfully, there only seems to be a single deluded poster here demanding everybody drink the EER-flavoured kool-aid. Everyone else has realised that when EER is planning 20Mtpa, throwing a tantrum with hysterical accusations of down-ramping because somebody said they only have 100 years worth of coal instead of 150 years really is rather foolish.
EER Price at posting:
39.0¢ Sentiment: None Disclosure: Not Held
