We know that Bundi after the 595mt was announced stated that there was further drilling as per below and hence why there will most likely be an upgrade
Highlights Increase in Bundi Project Inferred Resource from 381Mt to 595Mt* of thermal coal Drilling is confirming continuity and correlation of Macalister and Kogan Seams in the Project Area. Attractive underground mineable resource identified in the Kogan Seam MetroCoal?s Total Thermal Coal Resource Increases to 923 Mt MetroCoal Limited (ASX-MTE) is pleased to announce a 56% increase of the Bundi Project resource. The Bundi Project area, within the Company‟s EPCs 1164 & 1251 Wandoan West in the Surat Basin, is the down dip extension of the Elimatta and Xstrata Ltd‟s Wandoan mining project areas (see diagram on following page). Further drilling and geological modelling has confirmed the correlation and continuity of the Macalister Upper (MU) Seam and extended the resource area. Furthermore, the addition of the Kogan Seam (KO) as a workable mining section has seen a substantial addition of tonnages to the resource. The infill drilling program, commenced in February this year, was planned to improve our understanding of the resource by increasing resource confidence and tonnage as well as extending the total underground mineable area. The drilling program has also confirmed a resource in the overlying Kogan Seam. This is particularly pleasing as it confirms earlier indications that the Kogan Seam was a viable exploration target. The seam thickness in the Kogan resource area is between 2.2 metres and 5.8 metres thick and presents an attractive mining opportunity. The 70 hole drilling programme continues.
MTE Price at posting:
69.5¢ Sentiment: Buy Disclosure: Held
