500mt of coal plus. for under 8 million mc....

I have not started a thread recently so here goes. This article from the July cover story in the Australian Investor explains most of it. It is genuinely worth a read

Mantle Mining Corp’s Focus on ‘In-High Demand’ Commodities Proving Invaluable for Company’s Project Portfolio

Mantle Mining Corporation Limited is a multi commodity explorer with exploration tenements spread across three Australian states targeting in-high-demand commodities. Mantle Mining’s project portfolio includes gold & base metals, coal & coal bed methane and uranium & phosphate. The company’s tenements are located in well resourced historic mining areas such as Bairnsdale in Eastern Victoria, Charters Towers and Cairns in Northern Queensland and the Georgina Basin of Eastern Northern Territory.

Accelerating global demand for these commodities has shaped the Company’s immediate approach with coal & coal bed methane, phosphate and gold projects becoming the highest priority. The rising values of coal bed methane and phosphate in particular have greatly impacted the company, creating a stronger portfolio.

Mantle Mining is in an exciting phase of development with a strong Board and with Managing Director Ian Kraemer recently appointed for his technical, exploration and operational expertise.

On the 19th June Mantle announced that it had acquired the outstanding 12.5% interest in the Mt Mulligan coal & coal bed methane project, located near Cairns in Queensland. The Company now has 100% control of the project.

Mantle Mining is founded on strong triple bottom line principles with a core focus on sensitivity to the environmental and to cultural heritage and is presently advancing native title discussions for the Mt Mulligan project. This is an exciting project for both Mantle Mining and the traditional owners with an access agreement close to being finalized, possibly within months.

Mr. Kraemer informed the Australian Investor of Mantle Mining’s strong position with healthy cash reserves and a large portfolio of quality mineral exploration projects.

“The Mt Mulligan project is an old coal deposit that was mined from 1910-1950 and is known for its thermal coal potential. Once all heritage and native title discussions are completed, Mantle intends to rapidly pursue low impact exploration in the area. The company is looking to develop an environmentally friendly and culturally sensitive coal bed methane project.”

Mantle Mining also announced on June 5th an accelerated drill programme for its gold portfolio exploration. The Company’s pre-development gold projects, named Great Britain and Granite Castle, are both located in the vicinity of Charters Towers. Both projects hold JORC compliant standard gold resources.

“Mantle Mining also has a large gold prospect in Eastern Victoria near Bairnsdale that was mined extensively in the early 20th century but that had never been drilled. Mantle did the first ever scout drilling programmes last year and earlier this year. The prospect contains over 200 historic mining sites located on high grade cross cutting shears with over 25kms of strike length. Currently we are planning for a large third stage drilling programme targeted around and under the largest and most prospective of these historic mining sites”

“Mantle’s gold portfolio contains existing JORC resources and over the coming months we will complete re-estimates based on just completed drill programmes to enhance these resources. Further drilling planned for the coming months are targeting sufficient resource upgrades to justify moving steadily towards feasibility next year.”

The phosphate industry has experienced a massive surge throughout 2008, with prices for phosphate rock rising rapidly from US$40 per ton to near US$400 per ton. This rapid escalation in price was due to global factors such as increasing food demand combined with a reduction in available arable land due to bio-fuels becoming prevalent in the sustainable energy industry.

“The Georgina Basin is a large, well known phosphate resource and while it was has never been economic before, recent price rises and companies such as Minemakers and Phosphate Australia’s positioning within the area have made it far more attractive for Mantle Mining. Shortly we will have completed a detailed desktop study and by August plan to have a field exploration team completing initial reconnaissance. We are targeting an initial drill programme thereafter.” Mr. Kraemer told the Australian Investor.

Mantle Mining’s approach to its uranium projects is of a longer term than its gold, coal bed methane and phosphate assets due to the global fundamentals involved with uranium exploration and mining.

“The global demand for uranium is there and Mantle has a whole pipeline of prospects. We have just completed our first drilling programme on one of these at Julia Creek in Queensland. However, it is a more medium term priority compared to our other commodities due to the geopolitical environment of the industry, particularly in Australia.”

“Overall, Mantle Mining’s multi commodity approach is considered by the Board of Mantle to be ideal and places the company in a very positive space for the future, both short and long term. We feel that the Company’s projects are of superior quality and well resourced. In short, Mantle Mining has a very exciting future ahead of it.” Mr. Kraemer concluded.


July 2008