BMB 0.00% 2.5¢ balamara resources limited

Hmm. A Trading Halt for an increase in JORC. Yes, some companies...

  1. 1,854 Posts.
    Hmm.
    A Trading Halt for an increase in JORC.
    Yes, some companies use it but based on the past experience with BMB they usually use T/H for something pretty major. I know that today's announcement states that the T/H relates to a significant upgrade in JORC for Mariola but maybe there is a bit more to it.

    The Co also announced that we are waiting for a sign off of an agreement with Tauron for the use of their facilities. This agreement, when signed, will mark a start of our relationship with Tauron and their Siersza Power Station and as Mike mentioned will be a pre-cursa to an off-take agreement with Tauron. And as we know an off-take agreement is one of the major pre-requisites to finance the project.

    I can't see Tauron giving us an access to their own, significant on-site coal loading and transport facilities (I've seen them with my own eyes) and then didn't take our coal located just 1,800m from their power station.

    Anyway, since this T/H relates to Mariola and the agreement was to be signed very shortly (within days as mentioned by Mike at the AGM) there's a good chance that it could be added to the next announcement.
    This would also help to explain the T/H as you usually put the Co in a T/H before signing important agreements.

    Anyway, that's my cents worth
 
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