duchess resource upgrade

Very intersting article attached for your detailed reading :

http://www.onenewspage.com.au/news/Business/20110406/21152361/Rey-Resources-boosts-Measured-thermal-coal-Resource-at.htm

Like this bit in particular :
A 2011 drilling program will commence in the second quarter 2011.

Work in 2011 will bring milestones and strong newsflow for Rey including:

- 1H maiden reserve
- 1H DFS completion
- 1H permit applications
- 2H coal marketing
- 2H engineering
- 2H financing

In addition, there will be ongoing newsflow from continuing exploration drilling, environmental and community consultation.

Rey has been achieving its milestones at Duchess Paradise. With projected growth in thermal coal expected to increase, Rey is in the "drivers seat" to tap Asian demand for coal with its initial mining operation in 2013.

Rey has a defined path to production and substantial resource upside.

The completion of the DFS is likely drive valuation growth for Rey investors and could be expected to increase further at this point.

Having fended off two takeover offers, clearly corporate investors have calculated the value inherent in Rey's massive potential resource, that is closer to Indian and Chinese markets than east coast coal suppliers. It seems only time before other investors twig to the current versus future value of Rey.


http://www.theaustralian.com.au/business/coking-coal-prices-to-skyrocket-as-stockpiles-dry-up/story-e6frg8zx-1225993253543

http://www.theaustralian.com.au/business/mining-energy/xstrata-sets-benchmark-price-with-japan-for-thermal-coal/story-e6frg9e6-1226032002360

http://www.proactiveinvestors.com.au/companies/news/15273/rey-resources-boosts-measured-thermal-coal-resource-at-duchess-paradise-closer-to-mining-in-wa-15273.html


* Asian takeover in the wings again ?
* Cheap at 0.34 cents