Do you know anything about mining? Have you ever been down a coal mine or seen an open pit??
The point of the statement is:
1) that a lot of detractors on this thread spoke of having to remove all this overburden to even uncover the resource before mining could start and this would make the mine uneconomic (due to cost of overburden removal)
2) that the resource starts at the surface. Of course lower grade interburden (as opposed to overburden) will be removed as the resource is mined but it does not require a huge overburden removal exercise to uncover the resource. It requires removal of the interburden (the stuff between HG strikes) as mining progresses. The lower grade Interburden will also be recovered and used. Any overburden can be used later to reclaim mined zones (as opposed to tailings).
3) Only 50m wide - wow! Have you ever been down a coal mine where longwall operations will mine seams down to 1.5m high!? 50m width of high grade ore at the surface is a luxury dear fellow. If you read the Ann dated 28/7 you will see that there are several individual zones combining up to 95m of true width on Nicanda.
TON Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
