Plenty of upside in this stock imo, with drilling to start on the companies export thermal coal project (55mt JORC) as well as the other three coal projects once approvals are permited.
Stats Market Cap 13m (14c) Shares on Issue 95,000,000 Options on Issue 50,000,000 (Performance Options) Cash 10.5m/ No Debt
Projects # Moabsvelden Thermal Coal Project (74%) Market value (Venmyn) of XCD?s in-situ share of resource $18m (20cps). 3mt production by 2013, export grade thermal coal, Low cost open pit operation 2:1 strip ratio
# Roodeport (70%) Adjacent to UNV?s Roodekop project (84mt) and Exxaro?s New Clydesdale colliery, in the heart of the Witbank coal field. Historic drilling has identified coal over at least half of the property (1,120 ha) including several intersections near surface (such as 5.6m #4 seam at 12m & 6.65m #2 seam at 25m.)
# Bankfontein & Vogelfontein: The Ermelo coal field (100%) The two properties, Bankfontein and Vogelfontein, together amounting to 2000 ha, are located amongst several operating and historical mines. higher quality coals
GL to all holders
GB
XCD Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held