mt mulligan history

Being a holder no less than 8 months myself I decided to look back over past announcements particularly regarding the history of Mt Mulligan a being a bit of a novice and not always understanding the technical side I found it very interesting.

I don’t post often on this forum and I enjoy reading the posts by Hard man, Kranky and others as I’m sure their contribution is highly valued by the many readers who they generously and freely share their knowledge with.

Also given the trouble Mantle has had getting this project up and running since acquiring it from Trafford Coal Pty Ltd on 25 September 2007, I take my hat off to anyone who has held this stock since 2007 – you certainly have great patience indeed and hope you will soon be well rewarded.

Here is a little snippet of light reading from the following report that might help bide our time until the trading halt is lifted on Friday for anyone who may be interested and may not be aware of the history –

http://www.mantlemining.com/files/announcements/071029%20MNM%20ASX%20Release%20-%20Mt%20Mulligan%20Update%20_Final_.pdf

Location & Description of the Deposit
The Mt Mulligan coal deposit is about 100km west of the Port of Cairns, and about 50km from the town of Dimbulah, which is connected to Cairns by sealed road and an
operating rail line. The road from Dimbulah to Mt Mulligan is the formation of the rail spur that used to connect the mines at Mt Mulligan to the rail network. The track itself no longer exists.

And this –

History of the Deposit
The two mines that used to produce coal from the deposit – Mt Mulligan State Mine and the King Cole Mine - shut down in 1957 due to loss of the local market closure of the local power station due to commissioning of a hydro plant and switch from steam locomotives to diesel locomotives. There was a major explosion at the State Mine in
1921, that was attributed to either CSM or coal dust.
Despite the acceptable quality of the coal, it is understood that no export sales have ever occurred or been attempted. The deposit was explored in the 70s and 80s, for possible re-development, but low coal prices at those times probably mitigated against the investment involved. …end

There is a lot more technical information there for the experts (much of which goes over my head)

I wish all holders the very best of luck and come Friday, we may have a very good reason to down a beer or two…..or even 3