daytrades jan 6 pre-market, page-6

Great ann out for GNM

in a nut shell:


Latest Announcement to ASX by the Company.

Following further geological and geophysical exploration along with a geostatistical review of the resource at the NRE Wongawilli Colliery, the company (Gujarat NRE Coking Coal Limited) is now in a position to report an increase in its reportable JORC compliant resources and reserves associated with this mine.

This primarily involves an upgrade in both Indicated and Measured Resources from 45MT to 100MT (a 120% increase) along with a total resource upgrade from 258 million tonnes to 337 million tonnes (a 30% increase) and an increase in the total JORC Compliant Reserves from 7.8 million tonnes to 33.38 million tonnes (a 320% increase). Also following some extensive mine planning in the past 12 months the total potential reserves for NRE Wongawilli has been increased to 68.5MT. These additional reserves will ensure the longer term potential for the mine in providing future extraction areas to give a possible mine life in excess of 20 years at a production rate
of 3 million tonnes per year.

Thanks Stealth