Take your profit and get out guys....Saying that this is the...

Take your profit and get out guys....

Saying that this is the same coal as Blackwater.... Rangals... is a bald faced lie. If you look at the map you will see they are on a dome and only older formations are showing... so the Rangals are eroded away and only found East and West of their tenement. You can see Blackwater mine on the eastern margin mining DOWN DIP towards the east.

What NRL have is Fort Coopers / Burngrove / Fairhill Formation equivalents. High ash, low yield coals that no-one barring Stanmore (Mackenzie river) and Aquila (Washpool) think they can mine. The Major players have billions of tonnes of this garbage on their tenements and not one JORC statement... why because it can't be mined economically.

Those Fort Cooper equivalents will be in the order of 40% - 60% ash and the yields will be disastrous. Lab yields will be sub 50% at the very best and oft times far worse. This banded high ash coal is rubbish. Wash plant yields will be significantly lower than the lab yield.

None of the mid tier to major players is interested in this... they already have plenty of it and deem it uneconomic.

Well done those who took a profit... the rest of you should be looking at getting out. 100% rise on a find of Fort Cooper coal is scandalous and it won't take the market too long to realise this.

Gaz