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North American Gem Inc V.NAG



TSXV:NAG - Post by User

Comment by angelnickyon Sep 10, 2008 8:14pm
273 Views
Post# 15446700

RE: intresting

RE: intrestingYou must remove the overburden to expose the bed rock and coal seams. When such coal seams are exposed, samples can be easily taken to prove the quality of the coal seam in such area and if there is any geological anomalies within the coal seam. Suspect the coal seams are very close to the surface, otherwise it wouldn/t be ecomonical to mine by open pit. It would not take long to start the overburden removal process. It sounds like NAG and its partners know what coal is there, otherwise they would be doing drilling to prove the reserves, but no, they are going right  after the coal be removing the overburden. 100 million tonnes at say 130 dollars a per tonne for thermal coal, potential revenue of 130 billion, say 60 % recoverable of coal reserves over the life of the project gives a revenue value of 65 billion dollars, 3 million tonnes per year will give a project life potential of 20 years using open pit methods, provided that recovery allows for open pit mining over 20 yrs. My understanding, this particular are have an upper and lower coal seam.
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