"The high level of validation allows confidence to include this...

"The high level of validation allows confidence to include this existing data in the final model of the JORC Inferred Resource*, and minimizes the exploration program’s impact by reducing the number of new holes required.
To date, total cumulative Actual seam thickness as versus Predicted seam thickness is 439m Vs 331m, which equates to an overall 32.6% increase. Mantle considers these results to be excellent indicators of the potential to deliver a robust maiden JORC Inferred Resource* at the Bacchus Marsh Project."

I think this statement above might indicate reason for the joint venture to be signed in the very near future. They now know, for sure, there is a lot more coal there than they initially thought.