"very low strip ratio openpit thermal coal deposit capable of...

"very low strip ratio openpit thermal coal deposit capable of supporting a six million tonne per annum "

Thernal coal US$115 per tonne.
six million tonne per annum

118,641,825 shares on issue.

Cheap and unloved.

Now for the Mining news story....


Coal resource swells for Aviva

Lorna Seatter
Tuesday, 11 March 2008

COAL-focused Aviva has upgraded its Mmamantswe coal resource in Botswana to indicated status, with the latest estimate now sitting at 1.3 billion tonnes.

Perth-based Aviva announced an initial inferred resource estimate for the African project early last month of 1.29Bt, more than double its anticipated 600 million target.

The upgrade from inferred to indicated status was based on the inclusion of data from the remaining nine boreholes from a 32-hole, 3500-metre drilling program.

“The upgrade of the resource to the indicated category allows the company to move ahead with mining studies designed to upgrade the resource to a reserve over the next twelve months,” Aviva chief executive Lindsay Reed said.

“The Mmamantswe project is a very low strip ratio openpit thermal coal deposit capable of supporting a six million tonne per annum power station and a similar external sale quantity if required,” he said.

Mmamantswe is on the South African border and could provide crucial coal supplies to a nation crippled by power shortages.

Aviva claims Mmamantswe could become a credible supplier to South Africa’s power utility Eskom.

Further drilling has been planned to upgrade the resource to reserve status capable of supporting a 40-year power station feed.

Aviva shares gained 1c to 94 in early afternoon trade.