Quote: ""C @ Limited (CEO) is pleased to announce it has made significant progress on its due diligence for the Mongolian coal licenses it currently has under an option agreement. The option agreement, announced 20 April 2011, has a 10 week due diligence period which officially commenced on 6 May 2011. Since signing the agreement the Company and its local partner Trinity Mongolia Pty Ltd have reviewed the data room information on the 8 licenses which has provided a sound basis for the design of the exploration program. The mining authority and local government applications for the exploration work are now approved. The exploration program has kicked off and will include up to 5,900 metres of diamond core drilling and up to 1,200 metres of trenching on both the South Gobi and Ovorhangay province licences. An international drilling company has been appointed as drilling contractor after being highly recommended for their exceptional track record and service offerings in Mongolia by a number of coal developers operating locally.""
I make the 10 weeks, 15th July .... anticipating a great w/end then .. maybe a nice red?
Incidently, noticing a up-grade in our coal stocks ~ wonder if the coal conference is sparking interest?
Cheers :)
CEO Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held