Proved reserves of coal are generally taken to be those quantities that geological and engineering information indicates with reasonable certainly can be recovered in the future from known deposits under existing economic and operating conditions.
If we look at supply and demand factors in the decline, we can see that:
a) Coal price has grown significantly in the decade ending 20121:
Figure 2. Prices in US Dollars per tonne.
b) Coal consumption has also grown significantly worldwide2:
Figure 3. Coal consumption by region.
c) The price of substitutes (i.e. Natural Gas) has also grown. Not so in North America though, but if we look at the world trend it is growing3:
Figure 4. Natural gas prices.
Therefore if the rule of supply and demand worked we would see increase in proved reserves for coal, because increase in dem…
Almost 8 months passed from the time of previous post and here's how the owners corporations activities looked like to "resolve" the defects/problems:
1. Independent inspection report was ordered and completed 1st June 2015. The report confirmed the defects that were known to owners corporation already. It should be noted that in the period between December 2014 and June 2015 the only attempts by owners corporation to resolve the issues were to convince the lot owner that it's the owner's personal responsibility.
Therefore half a year gone with a couple of meetings only, because people were "on holidays", "busy" etc.
2. Between 3rd July 2015 and end of July 2015 the strata manager spent "contacting the builders for quotes". Until owner called the strata manager nothing have happend.
3. By the end of August 2015 all quotes were in place. The meeting of all owners was set up for the 7th October! Because as usual "holidays",…