opening 13c and falling, page-8

I would recommend people have a look at MCCs announcement on 24 Aug 2010 regarding the acquisition of MDL 162

that transaction effectively valued the tenement at $370m which has a total resource of 220mt of coking coal at a strip ratio of around 10 to 15x

NRLs deposit is shallow with thicker seams

I think this is the most comparable deposit and transaction in the market

the thick seams will allow for cheaper mining and greater production rate then those with 2-5m seams other companies mine and Im not aware of any other juniors that have a deposit this shallow

the coking coal market has also come a long way since Aug 2010