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05/09/17

11:35

Post #: 27001944
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Originally posted by ShareJagger ↑

I can see how you arrive at that conclusion about "looking good" for finance. However, I am well experienced in Indonesia and in particular Central Kalimantan. I have had discussions with Pat Hanna, the company geologist, at the AGM and the reason for the cheap start up costs are that the initial mining area is a series of synclines and anticlines and the coal presents hundreds of exposed seams. This is a normal process for Central Kalimantan, get producing, get cash flow and fund the expansion of mining.
The rainfall of the area is very high, 3 to 6 metres per year. This rain fall and rushing water continually scours the exposed seams and keeps the coal fresh with full coking properties retained. I have been in multiple CCoWs (mining leases and exploration leases) in that basin and found this to be fact.

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Gateway (GML) should be out of suspension soon. Great project acquisition in Bowen Basin ready to go very soon..
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