EER 0.00% 3.6¢ east energy resources limited

3 billion tonnes +++ coal resource!!!

  1. 490 Posts.
    Last week's announcement -whether deliberately written in such a way as to confuse shareholders , the Market, and other interested People, or ......or....or..., or it was written hastily to meet deadlines- was an utter disaster.
    It had such an adverse effect upon EER's Share Price, that I HAVEN NEVER SEEN in a Company sitting (working on the 15% =469 Million Tonnes Indicated JORC resourse Announced Last Monday - 100%=3 Billion Tonnes (+++) Indicated Resource (South and North Blackall).
    There was nothing(except the Announcement's Gobbledegook) negative to justify the 40% S/P drop in two weeks!!!
    In fact, if anything from now on, ONLY Positive News will keep coming to the Market....
    A).Tomorrow Thursday, (Friday, at the very latest) an ASX announcement will (according to two very reliable sources) be made, Clarifying, In a Way that can be easily understood by all and sundry, any confusion and misunderstandings left by the XENITH announcement....
    B). Soon the Mining Licence will be granted by the Queensland State Government, which will open (officially) the way for Approaches, Bids and Offers by Interested Parties (Many....).
    C). The Drilling in the Northern Part of the Blackall area continues, as announced Before by the Company...Upon completion, and bearing in mind the Geology of all the Blackall Area is similar, we will have NEW AND FAR MORE ANALYTICAL (... One would certainly hope, Clearer And More Professionally Presented than the Last One...)Results and possibly even JORC..... By September's end, or early October....

    D). The Mining Behemoth, Noble Group using its 60+ % Owned Gloucester Coal as a Take Over Vehicle, realising how Important Coal is to India-China and other Countries Power Stations (and the Steel Industry-Coking Coal) Is embarking on a new campaign of acquisitions....
    Why would they wait another year, or even 6 months to devour EER at much higher Price, when they can possibly do so now, at about $1,50 a share???.
    They (Noble Group) Know exactly what is under the The Blackall Tenements ground. Why wait for a Strong -in pecuniary terms- competition, at much higher price, with Indian and Chinese Companies???

    E). So far we have only concentrated on the (Huge) Open Cut (near surface) Coal Resource at Blackall, which makes EER extremely enticing a Mining Proposition, for any Any one Looking For relatively easy and cheap to extract coal...
    Bandanna Energy's (BND) coal, our Close Neighbour, is bellow 150 meters, that is......Exactly where ERR stops its Drilling (150-160 metres Deep)and Resource Calculations...
    Imagine If we,or any Future Buyer of EER, decide to drill deeper than 150 meters, -Most Coal Companies extract their coal from much deeper areas-.....
    The Total Resource then, may easily surpass the 5 Billion Tonnes of Thermal Coal!!! Mind boggling stuff?
    Well....Not really. It is well with the realm of strong possibilities, and, in my humble opinion, the Noble Group , plus "few others" are fully aware of EER's Potential Massive Coal Resource!!!

    All the above, "May" explain why we have seen, in the last few days, such a strange share trading pattern in EER's Shares, relentlessly aiming at pushing the S/P down.....
    The # Of +++++ (Cross trades) we saw in EER's Trading, in the last few days, is more than the crosses seen even in Eastern Day's Festivities in the Vatican Square!
    It appears, even the Bots have been "trained" to execute ....Cross Trades in EER's Shares!!!.......

    Cheers....Let's hope the Ordeal is almost Over!!!!

 
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