◆ RTL taking up it's option over the below coal tenements
◆ Resource estimates
◆ Nearology to RIV (current market cap of approx. $2B)
◆ Institutional buying (as per RIV in its early stages of exploration)
◆ Ongoing re-rating of the coal sector
From a recent announcement:
Dugal has taken an option on three (3) mineral concessions (Concessions) in the sought-after Zambeze Coal Basin in the Moatize district and Tete province in Mozambique. Two of the Concessions (3245L and 3246L) are located in the Moatize area close to the provincial city of Tete, and the third 1433L (see Figure attached) is located 175km to the northwest from Tete along the northern shore of Cahora Bassa Dam.
Concession 3245L is located immediately adjacent to coal concessions of Riversdale Mining (RIV) and within 20km from Riversdales well known Benga Coal deposit.
Information provided by Dugal indicates that Lower Karoo sediments, which are considered by Dugal to be highly prospective for coal, outcrop along the northern margin of 3245L. A large alluvial covered area in the western part of this concession is also considered to be prospective for Lower Karoo sediments and coal deposits.
Karoo sediments also outcrop extensively in 3246L.
This package of concessions offers an exciting opportunity with potential for large deposits of coking and thermal coal in a highly prospective coal region where individual seam packages ranging in thickness from 2m to 32m and cumulative seam thicknesses in excess of 90m have been recorded."
JB
RTL Price at posting:
4.5¢ Sentiment: LT Buy Disclosure: Held
