The point is not so much that NMR is bad where AFR etc are good... it's that they are all bad for traditional coal projects.
10 years ago, if you proposed to mine a deposit with coal density 1.70 (which barely qualifies as coal) in an area with no infrastructure, you would have been laughed off the market.
But times have changed and these days, deposits like this are all over the market and India and China will take anything they can get.
Which doesn't mean they are viable. I have doubts about all these Botswanan deposits (including CCC and AFR) being viable unless they are extremely shallow and have pre-existing infrastructure. Especially when your recoveries are only around 50% and the product you're getting (5500kcal) is only worth maybe $60/t.
But the market seems determined to attach value to them, so there is plenty of scope for making money from stocks like this.
From a coal geologist's point of view though, this stuff is definitely comparable to AFR's coal. Poor coal in the middle of nowhere, but a heck of a lot of it.
Whether that means NMR is undervalued or AFR overvalued is up to the individual investor to decide.
NMR Price at posting:
5.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)