gazman2011

Hi Gazman2011,

Your post definitely make me upset.

I also did some research, but imo your view maybe outdated, you should not value a company using outdated data .

NRL announced on last Fri:

1) 5 samples have returned properties results consistent with coking coal mining operations in the immediate area.
NRL indicated it should be coking coal quality.

2) 17 of 25 drill holes return coal intersected, the rest 8 we donot know yet.

3) NRL did say "The two seams are indicatively correlated with known seams in the Fair Hill Formation."

* Background info of Fair Hill Formation/Fort Cooper Coal

"While the Fort Cooper and some of its equivalents are coal
bearing, a l l coal seams are intensively banded with tuffaceous claystones, and have marginal or no economic value at present. The stratigraphic name, therefore is appropriately applied to divide the section according to coal quality."

"Some tuffaceous coal seams were intersected in petroleum wells farther north, and would be better considered part of the Fair Hill Formation."

"The Fort Cooper Coal Measures interval in the Denison
Trough - Comet Ridge is more marine, and contains little coal. The upper boundary lies within the Bandanna Formation as defined by Power (1967) and is recognised by the presence of tuffaceous coal, however the Yarrabee Tuff Bed itself has not been identified."



"The Fort Cooper Coal Measures contain numerous tuffaceous
seams, some up to 30m thick,which comprise as much as 20% of the stratigraphic section. Coal plies, however, make up
generally less than 50% of the gross coal seams, and themselves usually contain high proportions of mineral matter. The better quality seams occur towards the top of the unit and have been investigated to a limited extent. Raw ash content of the Girrah seam, a thick seam commonly found at or near the top of the Fort Cooper Coal Measures -
"Burngrove Formation, ranges between about 30 to 40%. A washed product yielding about 60 to 70% with an ash level of less than 20% and variable swelling properties is achievable. This type of coal could be blended
in with other better quality coals, either coking or steaming. The uppermost Fort Cooper seam at Winchester South, the Vermont Lower, was investigated in detail. It is some 4m thick, has an average raw ash content of' 40%. Washability testing yielded an average cummulative float fraction of (for example) 55% for an ash content of 27%. A better quality ply, the Vermont Upper, overlies the Vermont Lower, separated by the Tuff Bed."


"Mining conditions in the Fort Cooper seams would present
geotechnical problems. The tuffs are weak, hydrate easily, and would cause floor and slope instabilities, and problems in a wash plant."