10million market cap... but more than coal...

Just having a look at the company website now and the last quarterly... very interesting....

In the latest quarterly it says....

"Mount Morgan Project: (100% Lodestone):

This project is centred on the historic gold mining town of the same name, 50 kilometres south-west of Rockhampton, Queensland. Lodestone is exploring for gold, copper, and molybdenum.

Several large companies are showing interest in joining the project. Each of these companies has the technical capability and financial resources required to carry out
the scale of drilling needed to thoroughly test the Discoverer Two, Midas, Moongan, Hamilton, and other prospects/targets in the Mount Morgan District."

On the company website they have named BHP Billiton as a partner in their Mt Morgan project.

I wonder if a JV will open up in the future between Lodestone and BHP. They seem rather interested in this project.

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The other project that looks interesting is the Botswana Uranium project. From the last quarterly...

"Botswana Project: (100% Lodestone):

This uranium project is located in eastern Botswana.
Lodestone has been granted five Prospecting Licences totalling 3125 km2 in eastern Botswana.
Eastern Botswana, where Lodestone’s Prospecting Licences are located, has rail, road, power and urban infrastructure. Lodestone’s licensed areas are between 60 kilometres and 240 kilometres from Gaborone, the nation’s capital.
Botswana is rated highly in the annual World Investment Risk Survey conducted by Resource Stocks within the Australian mining industry. Most recently (2007) Botswana was rated the seventh most favoured mining country, of 32 listed, just below the United States (6) and above Australia (8). Moreover, Botswana strongly encourages exploration for uranium.

Lodestone’s first tasks are to confirm the presence of favourable lithologies by fieldwork, and to identify discrete targets within the Makoro area by integrating and interpreting existing lithological, airborne radiometric, drill hole, and satellite data. Funds required for this work are anticipated to be raised from Lodestone, its shareholders, and new investors."

"Lodestone will continue to advance the Mount Morgan and
Limestone Creek Projects in the next three months in preparation for drilling, and will begin fieldwork on the Botswana Project."

So looks like some good tenements near infrastructure in a country that is better place to mine than Australia!