From the Operations Update, "The well-site geologists have...

From the Operations Update,

"The well-site geologists have described the observable coal qualities to dominantly be C3-C4 on the AS 2519-1993 Guide to technical evaluation of higher rank coal deposit’s brightness scale."

From my understanding from reading this,



Section 9.4, page 26, onwards.

"The brightness of the coal chips is an
indication of the quality of the coal, i.e. the ‘shinier’ the coal chips the better the quality of coal. Coal can be logged as “undifferentiated coal” (code = CU) where fresh and where the brightness cannot be identified. If a distinction can be made on coal type, weathered state, or brightness then the appropriate code should be used."

The higher the brightness, greater the vitrain, the greater the vitrain the better.

The C3 and C4 note relates to the organic compounds within the coal(my read), this is what we want. From this,



Page 2(155 of report)

"oil generated by coal tends to be adsorbed in the micropores of vitrinite; eventually this trapped oil is converted to gas as the coal matures under increasing thermal stress. Thus, it is gen-
erally accepted that coal can generate an important amount of methane and store a large volume of generated gas, if the entrapment conditions are favourable. Ritter and Grover (2005)related the absorption capacity of generated petroleum (C15+hydrocarbons) in the coal matrix, the later secondary cracking during subsequent maturation and the generation of light hydrocarbon compounds when cracking becomes more dominant.They revealed that expulsion begins relatively late and that the expelled hydrocarbons consist of C1 to C5 hydrocarbons and heavy aromatics."

C3-C4 hydrocarbons are right in the sweet spot and show that the location is not over or under mature, IMHO.

Just my thoughts and probably wrong, happy to receive critique.

Cheers