You can't compare Nurst with the Canning Basin. At Nurst, it is brown coal, lignite. In Canning Basin, quality thermal coal has been found by REY. Hopefully, the first assay will confirm the quality is similar to REY.
The SP is held back by the failure of REY to secure a development licence. AFA has bought 30% of REY, and I can't see AFA paying good money if it doesn't think REY development licence will be approved. By the time, TPL defines a JORC resource, we hope REY licence will come through. It is a waiting game.
There is also an opportunity to farm out O&G drilling.
TPL Price at posting:
0.6¢ Sentiment: None Disclosure: Held
