results reported, page-10

Ghostey,

No I don't think Bandanna have anything like this (Don't get me wrong... Bandanna have some mine proposals with holes in them so big you can drive buses through them... but they also have some darkhorse potential in the Galilee).

The only analogies in the Basin are SMR's Mackenzie River and the Aquila Coal Washpool project.

I'm keen to see where these projects end up eventually because I have my doubts that the current owners will operate them for the duration of their mine lifes.

The saving grace for NRL is that Aquila will be first cab off the rank and will therefore have to do the hard yards of finding a buyer for such unproven realestate. Otherwise fund the mine development and hope for the best in proving the concept.

Thats a good link CL27 and you will note that the Fairhill spec is a little unusual. Probably semi soft maybe PCI maybe hard coking depending on how you look at it.

CL27 is also right... there is no real rule of thumb each deposit has its own set of characteristics, capital and infrastructure requirements. Just remember though.. from what we were looking at in regards to coal quality these guys will most likely be throwing away at least half of their raw coal through the wash plant. You can compare that to Aquila and SMR's own lab wash results.

A gamble is a gamble gents... I'm backing this one is going to ride on how sharp management is. Sentiment is king and these guys have been doing a lot of the right things in selling themselves.

Goodluck

Gaz