today by Hartleys. Exceptionally conservative in many areas...

today by Hartleys. Exceptionally conservative in many areas which is a good sign for the future as the story unfolds

eg
discounted a potential 13.5 billion tonne resource by 75%. Then used a nominal $1 per tonne that was used a few years ago when coal was much cheaper.
Also used very pessimistic future prices for thermal and coking coal. These were in the slightly fuller report that was in a pdf file. I didn't know how to cut and paste from that so only posted the summary.
Also discounted the NPV of the Benga project by 40% for time to production, which would be fair enough