yeah I had a read through CIC's website etc last week - exciting stuff! They seem to be the most developed coal play in Botswana.
If memory serves their market cap is around $85 Million at present and a resource of about 2.4 B tonnes.
From my reading they are it talks with a number of groups to sell their operation, They had a juicy all cash offer about a year ago (JSW Energy) of $7.42 per share, $412 million all up. Not sure what happened but it fell through and needless to say their share price took a pounding!
My thoughts are that before anyone seriously looks to buy up proven coal resources in Botswana we will need some clarity around the rail system - which with a bit of luck we will get early in the new year! But to me this shows there is interest out there for Botswana coal resources and there are a lot of eyes watching the situation unfold! Definitely one to watch!
One last note - CIC operates in Mmamabula which is part of the Limpopo/Waterberg region and is touted to have the last of Botswana's large untapped coal reserves. From memory Allan Mulligan (Walkabout Resources) is in negotiations to acquire a 70% interest in PL 17/2010 on NMR's behalf. From what I know this bit of land was relinquished my Meepong (CIC link). Will be another feather in NMR's cap if that deal comes through!
A bit of interesting reading is CIC's botswana presentation.
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