all aboard re rate re rate, page-2

Lets look at this rationally. Mozambi acquired EPC 1768 and EPC 2098. EPC 2098 is just rubbish, no mineable coal ever likely there, Rio Tinto are well rid of it. EPC 1768 does have Rangal/Blackwater coal outcrop dipping back into it, but... the southern block has a lot of igneous rocks, and these may have coked out the seams. The northern block may well have coal, but the potential surface area is only 9 sq km, or about 15 Mt/m. So to get their 50 Mt minimum size, they will need a clean mineable Rangal seam over 3m thick over the entire area of Rangal sub-crop. Bear in mind this EPC isn't exactly in a hot spot - have a look at a map before you rush out and buy shares. It's interesting, but there is way too much hype about this.