Coking coal shoots to 20 month high !, page-52

It's really tough to establish a market price based on the information disclosed to date. As a general rule all of the usual empire clay based models for performance of a coal in a coke blend do not work for Indonesian coking coal. They are different. The actual realized price depends a lot on the skill and knowledge of the marketing team. I am sure no one would argue with peters ability to sell a product so is suspect cla can achieve a good price for this coal. There is also a very wide range of coal quality in almost every aspect over very short distances in Central Kalimantan. Distances as short as 150m can give 5% plus change in VM and similar proportional changes in TS. Not enough data density exists to determine if things like reflectance varies over short scale. Fluidity and can tend to be much more consistent until her sources are approached when they change rapidly. Being near another project in Central Kalimantan is absolutely no guide to realized coking price

It's not like the Bowen basin where grade control drilling is 1km centres.

The big thing I struggle with on cka is that the data disclosed to date does not allow me to arrive at an informed opinion on the likely realized price.