Ok my friends I have been away for quite awhile but find a bit...

Ok my friends I have been away for quite awhile but find a bit of free time now to comment on where we are now at with NRL.


The positives:

New MD with good coal experience.

Seems we have some results reported in the format I asked for them - a very positive move by the company in quelling some of the hype and getting down to business and a direction I highly approve of.

Appointing MBGS to do the modelling adds respect and credence to the company. I also strongly approve of this move.

The Negatives:

While the coal geophysical profiles are better than I thought they may have been they are also not good either. You can see they are high ash seams and even with the worst of the stone bands taken out its going to be a terrible yield and will probably report as a higher ash product than they expect.

In pit processing may help in the beneficiation process but it is hard to see it working to get a reliable product specification and an economic yield.


What they need to do now:

In my opinion if they want to make this more accepted as a going concern NRL needs to get more coal quality data and in a variety of formats. I'm not convinced that a normal drop shatter process will be indicative sizings that will be achieved through the mining method. A trial of different hand knappings should be tried as well. It is also going to be hard to keep this stuff dry during all periods of mining so fluid sensitivity should also be tested during sizing and coal quality testing.



I am far far happier with the way this company has presented this potential deposit with its last few announcements. I still don't like it as a deposit and reiterate that there are billions of tonnes of this material at shallow depths throughout the Bowen basin.

Much improved reporting well done to the new MD.

Gazman