500m to 1 billion tonnes of coal is possible

hello everyone

its been a bumpy NRL ride today for me, albeit profitable so far. bought at 10, sold at 12, bought back half at 11.5

why?

initially i had my concerns, due to the following quote, but a phone call to NFL allayed my fears somewhat

"A marine transgression, which halted deposition of Group III coals in the south, did not extend into the northern part of the Basin where coal measures continued to be deposited. Volcanism at this time resulted in major outpourings of tuffaceous material, which contaminated seams in the Fair Hill Formation and Fort Cooper Coal Measures, rendering them uneconomic at present, despite their considerable thickness."

http://www.bowenbasin.cqu.edu.au/basin_data/reg_profile.html

so, fears aside, today's announcement seems to have obviously understated the possible JORC

the coloured seam diagram shows a high grade area of 4km x 4km x 12m thick = 307m tonnes

the coloured seam diagram shows a larger medium grade area of 7km x 4km x 10m thick = 448m tonnes

if the 8,000 hectares mentioned in today's announcement contained coal at 8m thickness average = 1,024m tonnes

if the striped target area in the larger diagram held coal, this would amount to 2,458m tonnes

please, DYOR