not so rosy

All

I hate to be the bearer of bad news, however, I have been doing my own due diligence with a view to buying RTL as I love to Mozambique coal story ie Riversdale, Vale etc.

However, I just plotted up the 3 proposed licences that RTL are looking to acquire.

None of them have any appreciable amount of the coal bearing geological unit on them!

1433L is all granitic basement

3245L is 98% granitic basement with tiny sliver of prospective karoo stratigraphy

3246L is sedimentary basin but these rocks are too high in the sequence meaning if coal was present it would be many kilometres beneath the surface.

This is either a major pump and dump or the directors of this company are VERY naive.

I will get slammed as a basher here I am sure. I am not a shareholder. My only motive is to not see unsuspecting punters get ripped off and lose their hard earned.

My conclusions are just that, mine, so do your own DD.

I will post those maps here once I work out how to insert jpgs...any help would be appreciated.