For what it's worth, I also work in mining in QLD and everything...

For what it's worth, I also work in mining in QLD and everything I've heard around the traps about NRL so far seems to line up with what Gazman and others are saying, ie anything in the Burngrove or Fairhill measures is trash and will be high ash/low yield. There was concern that the sexy CSNs were highlighted but no comment was made on the other usual coal quality metrics like ash, energy or moisture.

Of course, with the coal market the way it is now, some 'strategic' buyer could pounce and NRL's price could well and truly depart from its value. If Aquila are bold/reckless enough to mine Washpool, I don't see why they wouldn't contemplate bidding for this. After all, hard coking coal is what the steel mills are truly after, not the semi-soft/thermal stuff that is getting flogged off now.

I hold, but I didn't do much research when I bought it - I'm basically punting that some Chinese/Indian steel mill will do something stupid and take a strategic stake.

PS - I looked at the Comet Ridge tenement on google maps. Is it just me or is the tenement under a mountain range? Good luck open cut mining that...