Ann: Acquisition of Key Tenement Adjacent to Bluf, page-2

re: Ann: Acquisition of Key Tenement Adjacent... That was a brilliant announcement but has surprisingly done nothing for the SP.

Highlights for me were ...
The company has acquired more good ground to improve the Bluff project's operating costs and resource size.

The company intends to lodge an MLA in 1H 2013 with first operations commencing late 2013 to early 2014 subject to the outcomes of the feasibility study.

This suggests that the company is looking to become a coal miner rather than simply trying to package a prospect to sell off as they were doing previously.

Other positives are:
The project is situated right on the main rail line to Gladstone.
The deposit is of PCI coal and looks like it will not require washing - allowing for a profitable venture similar to the Jellinbah mine situated nearby to the north.
Chris Wallin is a serious player in coal in Queensland and is going to become a major shareholder.