* 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
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
BAC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
