BGL 0.98% $1.80 bellevue gold limited

drilling for jorc, page-26

  1. 1,217 Posts.
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    Thought it may be, but didn't think that was relevant any more.
    I also 'googled' Draig Resources jorc, and came across the following:
    http://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=19&ved=0CFgQFjAIOAo&url=http%3A%2F%2Fcentralasia.rencap.com%2Fdownload.asp%3Fid%3D14913&ei=2JPqT_3XJoqUiQe6ptG0BQ&usg=AFQjCNH6OA0GPmeJYUQRNiqh3JHiYFMnNA

    " ... Drill results suggest
    that an initial JORC resource of up to 30mnt and a resource target of up to 100mnt
    are possible at the Teeg licence in Ovorhangay province. Coal testing should also
    confirm that the coal has favourable coking properties with CSNs of >3 and relatively
    low ash - properties that are favourable for a semi-soft coking coal product. We
    maintain our AUD0.80 TP and BUY rating based on an eventual attributable
    resource of 112.5mnt. Draig had cash of AUD6.75mn as at the end of March 2012.
    The recent exercise of the Trinity option should add a further c. USD1mn to the
    company's cash balance. ..."

    Guess it's a positive aspect, whilst we wait.
    Not sure if someone else put up this link, given it's from end of May.

    Cheers :)
 
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