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
opening 13c and falling, page-8
Currently unlisted. Proposed listing date: 16 DECEMBER 2022 12:00 PM AEDT##