You're not the only one James.
Here is an overview.
* Large scale coal exploration targets and acreage in under explored but prospective area North Western Galilee Basin
* Objective to prove up JORC resources in the short term
* Tight capital structure
* West Galilee Project
o 6 granted EPCs, 1 EPCA
o 80/20 joint venture earn in for $2,000,000 expenditure
o Large area - 2,100 sub blocks (5,880 sq km)
o Drill ready - no native title or strategic cropping issues
o Three overlapping basins - Galilee, Eromanga and Millungera
o Galilee and Eromanga known to be coal bearing
o Millungera - recently delineated and interpreted as potentially hosting significant coal seams
o Area largely underexplored
o Galilee Basin - sub crops in the north, Betts Creek Beds on the margin with seams up to 4m thick
o Eromanga Basin - known to host economic thermal coal - Winton Formation at surface on EPC 2078
o Millungera Basin - sits on heat producing granite - potential granitic source upgrading to coking coal
West Galilee Project - Exploration Program
Year 1
* 9 holes - majority shallow
* Rotary Chip
* $940,000
Year 2
* 7 holes
* Rotary Chip and partially cored
* Coal quality testing
* $820,000
West Galilee Project - Adjacent Activity
o Guilford Coal (GUF)
- Hughenden Project
- 11.9 metres net coal seam intersections
o Cullen Resources
o Waratah Coal(Palmer)
o Linc Energy
West Galilee Project - Infrastructure
o Project area transversed by Mt Isa - Townsville Rail line (Eastern Rail Corridor)
o Potential ports - Townsville and Abbott Point
o Feasibility studies commencing for Townsville port upgrade
o Abbot Point Coal Terminal expansion - Adani group, T2/T3, T4/T7
Capital Structure and Cash
o Shares on Issue
- Founder 12,900,000
- Seed (5 Cents) 7,600,000
- IPO ($6,000,000 at 20 cents) 30,000,000
Total on issue at IPO 50,100,000
o Market Cap at Listing (max subscription) $10,020,000
o Cash Post IPO $5,595,000
* Ongoing and increasing demand for export thermal coal
* Large under-explored prospective ground with identified targets
* Potentially rapid return for conservative exploration spend
- Forums
- ASX - By Stock
- BAC
- Ann: Baru Resources Limited - Prospectus
Ann: Baru Resources Limited - Prospectus , page-6
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