jorc resource upgrade due and coal demand, page-6

Mutty,

You don't think that Noble brought in expecting exploration would suddenly turn into a mine overnight do you ? They knew exactly what EERs prospects were when they brought in and they knew where things were at not that many months ago when they paid up all those options to increase their holding.

Now I know its a bit frustrating not knowing which day, week or month the next JORC will be released but I'm not sure things are any different to what they were last year other than that we are now closer to getting a JORC that covers the other major part of the resource.

Coal prices are looking good and the prospects for coal in coming years are looking excellent. I believe that the strategy of EER isn't to rush to dig the stuff up but rather to demonstrate its value, await the infrastructure which is largely in the hands of others, then wait for the buyers to come sniffing.

If you want short term revenue then EER isn't going to provide it. EER has massive potential value, 10 or 20 times the current price, but that value is only going to be priced in when somebody wants (needs) to own it or contract supply from it. Its a sleeper and the key is to minimise the cash burn while proving up the resource so there is something to market.

The JORC should be with us within the next 4-6 weeks.