eer vs afr

1. Current market cap:

EER: $105 million
AFR: $250 million (including a uranium project which could worth up to 15% of this market cap)

2. Exploration target:

EER: 1.2 to 2.0 billion tonnes
AFR: 1.0 to 1.5 billion tonnes

3. Current resource:

EER: 1.2 billion tonnes of inferred raw coal resource, significant upgrade to be announced in April 2011.
AFR: to be annouced April 2011.

4. Coal quality:

EER: 6755kcal/kg washed
AFR: 4000-5000kcal/kg unwashed and >5300kcal/kg washed

5. Coal thickness and depth:

EER: cummulative 7m thick from dipping from approx. 10m to 90m with 10:1 strip ratio.
AFR: 12m thick from 25-65m depth, 35km strike length (but narrow) over 90km2 area. Expect open pit mining with 3:1 strip ratio.

Imo, there is still huge upside for EER at today sp. Up 50% from today sp is possible once we have the indicated resource by the end of the month. EER has Noble as a valued large share holder who could play role in funding and marketing the coal development.