market paying attention to the coal find , page-12

If you listen to the most RECENT BRR interview

quote:

*The resource needs to be DEFINED FURTHER

*They are after at some stage a project partner with relevant expertise.

* A party with experience in coal marketing & distribution.

* With the view of selling a small stake in the project 10-20 % and the possibility of farming in a higher equity position at a later date.

* The project is being looked at as a MED -LONG TERM project of interest.

unquote:

It can still be a challenge to raise requisite capital to get projects underway given that the mineral industry requires large amounts of high risk capital. Consequences of this reality means companies must develop efficient means to attain this capital .

Investors willing to provide this capital ie J/V partner would require transparent and comprehensive information before committing to a project ie a more precise resource estimate amongst many other things .....

By defining the resource further you are in a far better position to negotiate with potential partners regarding future equity position and the perceived benefit for the company and its shareholders..

Essentially what we are dealing with are preliminary estimates only. We may find after further drilling, the resource estimates may increase further which means all bets are off.

Finally I dont consider this to be a downramp, but one needs to step back and realize in order to undertake further drilling will equate to time + more time + further capital outlay perhaps months before actual figures can be substantiated .

Therefore I consider it to be a MED- longer term proposition.