work this out now, page-5

Backontrack

INR...
Reserves = 35mt (proved & probable)
Resource = 324mt (inferred)
Current production = 0.5mtpa
Projected production = 4mtpa (by 2010)

GUJ...
Reserves = 125mt (proved & probable)
Resource = 241mt (inferred)
Current production = nil
Projected production = 4mtpa (by 2010)??

So with combined mines we have:

Combined resources of up to 700mt of coal
Potential production of up to 8mtpa … My initial target is a conservative 2mtpa

Coal prices vary MASSIVELY … mainly because there are so many different grades of coal … from the soft brown coals to premium hard coking coal. (black)

The coal that INR/GUJ have in their deposits is the best premium hard coking coal. There is a great demand for this coal as it is used in steel making, so rising demand for iron ore & steel sees a corresponding demand for black coal. Likewise a rise in iron ore prices sees black coal prices rise.

Current prices are at $120 -$130 p/t .. with potential to hit $200p/t

So by any mans standards they have a seriously valued resource here

cheers