I noticed a few posters are bagging the coal quality of NMR...

I noticed a few posters are bagging the coal quality of NMR recent announcement, so I though I would open a new thread to discuss this in a little more details:

Some posters compare washed coal calorific value of AFR to NMR Raw CV values, I don't know if this was deliberate

The way I see it is NMR CV value is higher than that of both AFR and HDG, refer to both companies recent presentations.

For example:

AFR: has two seams, one has 18.2 MJ/kg and the other low grade 12.5 MJ/KG, washed coal will give 20.3-22.7 MJ/KG

HDG: They provide sketchy details, their initial inferred resource contain only one seem and they chose to ignore the other seams which reside above it, obviously they are of lower quality, so they end up with a much smaller resource. only Raw CV 20.9 MJ/KG provided.

I noticed some posters say HDG are advanced stages and are in feasibility stages, I disagree, I think NMR data are more complete, scoping study under way and will be published next quarter.

CIC was sold to the Indians for $540M, they are also in Botswana, 2.6 Billion tons of coal, EV $0.21/ton. AFR refer to them in their presentation as the bench mark, they have some of their resource(indicated and measured) as export quality which has CV 27.2 MJ/kg, the rest is less than that of NMR, only 21 MJ/Kg.

So NMR resource CV 23 MJ/KG is higher in value than AFR, HDG and the most part of the mighty CIC.

Seam Thickness:

only AFR has better seam thickness here at 14 meters average. HDG and cic have comparable seams of 4-6 meters. but our NMR has one Thick seam of 15.78 meters thick and a few thinner ones.

Ash content:
NMR: %16.48 (washed) definitely better than CIC and again better than AFR, HDG does not have washed coal values.

Depth:

AFR is the best of the group with near surface seams, NMR seams depth is 134M on average, HDG first Jorc part is 100M deep, CIC seams are mixed but some as deep as 90M and that did not stop them selling it for US 21 cent/ton.
no one said it is worthless or un-minable then.


Sulfur value: NMR slightly higher than the rest at %1.69.

Resource size: NMR is massively bigger than anything else in this country and I think with more drilling going into measured and indicated they will be able to detail which parts are higher quality, less impurities etc. and then they will have an identified sell-able product.

In one of the early AFR presentations, they list some of the transactions that happened in this area. I noticed some of the "Inferred" resources were sold for US14c per ton and that was the minimum, it goes higher with measured and indicated all the way to 79 cents per ton.

NMR as of yesterday is valued at half a cent per ton.

And if you need to see how high the demand is for the coal, go no further than HDG and AFR presentations, Botswana still import half their coal from south Africa for power generation, south Africa production of coal has peaked, and the Indians are sniffing around for good resources.

So with all the comments about how rubbish the resource is and the experts were laughing themselves to stomach pain, falling off the couch etc. I guess it is the bitter feelings of missing out that can be a little discomforting in the stomach. I personally did well yesterday and I am nearly free carried. and happy to see this one for a little longer.