Lemur Resources (ASX:LMR) has attracted the markets interested recently due to its robust cash balance of $15 million, within a market cap of just $8 million.
Shares in the company have risen 33% from $0.03 to $0.04 in the last week.
Lemur's flagship asset is its Imaloto coal project in Madagascar, which boasts a JORC Resource of 135.7 million tonnes, 68% of which is in the measured category.
A scoping study showed capital expenditure to bring the project into production of a modest US$12 million.
In May last year, Bushveld Minerals (AIM:BMN) launched a takeover bid valuing Lemur at over $19 million.
The takeover bid was not successful although Bushveld did acquire 54.39% of Lemur's shares on issue.
Lemur is now in the process of evaluation new mining assets for acquisition.
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News: Lemur Resources is valued at $8 million and has $15 million cash
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