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Strategies & Market Trends : Ride the Tiger with CD
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To: Traderworld1 who wrote (121071)6/30/2008 9:54:53 PM
From: hank2010  Read Replies (2) of 313001
 
I do not like the fact that WER coal quality is suspect.

* 47.70 m to 55.32 m (7.62 m): Coal, massive;
* 55.32 m to 66.54 m (11.22 m): Coal Breccia, from 20 to 60% angular coal clasts, mixed with varying amounts of clay, silt and sand

Neither the rank nor the grade of the coal has been determined. It should also be noted that core recoveries in the coal intersection were as low as 15%, and average less than 50% for the 7.62m interval. Hence, the massive nature of the coal as stated in the drill log may not be accurate.

Some are saying this is coking coal. The coal breccia will have to be cleaned up pretty good to eliminate the silica that is in the sand in that breccia. You do not want silica being into'd into the steel melt. The fact that they only got 50% core recovery in "Coal, massive" suggests that this section is in fact not massive.

The presence of coal breccia mixed with varying amounts of clay, silt and sand suggests it is on the edge of the coal deposit.

The positive thing about the WER news release is that IMO it shows that the coal deposit extnds all the way out to the WER property. I would think that cos with property in the area between the GXS drill holes and the WER hole would have better props than WER.
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