Hi Shasta
I'll post my reply here, rather than on the HUN thread.
When your talking about the Surat basin, you're pretty much talking thermal coal. The higher margin coking coals tend to be found further north, in the Bowen Basin.
Certainly a large exploration target, 'down dip' of some well known deposits. I presume that this really means that these dipping seams are only now becoming increasingly attractive due to higher coal prices. Speaking in general terms, you are looking at mining lower priced thermal coal (relative to coking coal) in an underground operation (generally higher cost), and a fair distance from port (Gladstone).
I also presume they intend to make use of the ' Southern Missing Link' to get their coal to Gladstone. This has yet to be built. There is a small coal terminal at the Port of Brisbane (Qld Bulk Handling), which is wholly owned by New Hope. I believe New Hope allow third party access, but doubt it will be the solution Metro Coal would be looking for.
http://www.suratbasinrail.com.au/new...basin-rail.php
What's Metro Coals Mkt Cap and EV?