SXP have 690 million tonnes JORC at Wintinna with a target of...

SXP have 690 million tonnes JORC at Wintinna with a target of 2-3 billion tonnes. Then they will be releasing the JORC soon for Weedina, which will be about the same. These are just TWO of the EL's they have. The whole Arkaringa basin has the stated potential of 30 billion tonnes. All of this is moot, because their coal is:

a] Sub-bituminous
b] Deep
c] "stranded" ... a zillion miles from nowhere!

http://www.australiancoal.com.au/classification.htm#types
"Brown coals, (sub-bituminous) ..... are uneconomic to transport because of their high moisture content. These coals are also susceptible to spontaneous combustion."

The lower ranked coals are browner and softer. Brown coals or lignites have a high oxygen content (up to 30 percent), a relatively low carbon content (60-75 percent on a dry basis), and a high moisture content (30-70 percent).

Hence it cannot be economically mined ... so dont compare it to other coal miners.

It is only suitable for CSG, CTL, etc ... not for mining. Hence its $value per ton is probably only a few dollars at most!

The coal has always only been a "side play" for SXP ... they are after the oil & gas that will surely be there somewhere!

cheers