Hi Guys
In the spirit of 'DYOR' - might be wise to read the updated JORC Statement (
http://www.lcke.com.au/News/lcke-project-2019-geological-modelling-report-resource-statement).
Was reading through this recently and noted that the report now includes a rudimentary estimate of both stockpiled and in-situ Oil Shale above the Q Seam (the Q seam being that which has been upgraded to 2P recently). The 2015 statement makes reference to Oil Shale being present within PEL650, but was never reported as a quantity if you like (
https://www.asx.com.au/asxpdf/20151208/pdf/433mvxqp8ypm92.pdf). Interesting to note that 740 tons has been extracted during the mines previous life and stockpiled, while there are additional exploration targets to 350m depth of 914 tons.
Highly unlikely that this is another long term revenue stream in itself, and LCK would require an ML (i think) rather than a PEL to extract/process Oil Shale, but does make me wonder if it is at all significant in terms of a petrochemical plant on site as (i quote) : " Since at least the late 1980’s this material has been considered a potentialresource for middle distillates, kerosene and diesel fuel". May be that the stockpiled products are able to be utilized in the petrochemical manufacturing process as some sort of feed stock. If indeed it is usable as a feed stock, the fact that some has been stockpiled already is very handy.
To be honest - i dont have much background in this space, closest i came to working in Oil Shale was applying for an internal transfer from Muswellbrook to Houston while working for 'The Big Australian', but never came to fruition.
Certainly something i would like to ask about at the next AGM or Investor Presentation i attend (not sure when they will be, maybe some reference to them in the upcoming quarterly report).
Also interesting to note how many Mt of Coal are now deemed suitable for ISG - down to 301.2 Mt from 376.6 Mt, Noting that now GeoConsult have included reduction in suitable tons of coal for ISG for things such as standoff from high walls etc. That would be in line with comments from some longer term holders re: need for standoff from high walls, faults etc.
Just food for thought, all things appear to be headed in the right direction
(20min delay)