Just look at these companies for the huge potential Baru has in the next year !!!
This location is close to the northern margin of the Eromanga basin, which overlies the coal bearing Galilee Basin and in part the newly defined Millungera Basin.
It is located 110 kilometres west of Guildford Coal’s (ASX: GUF) plus one billion tonne Hughenden Project, which lies at the northern end of the Galilee Basin.
Historically there has been very little exploration for coal deposits within and around the project area and a majority of the drilling in the surrounding areas were either targeted at petroleum or stratigraphic (geological) holes.
However, there has been increasing interest in the northern portion of the Galilee basin over the last 12 months.
Galilee region exploration hotting up
The potential of the Galilee Basin to host large coal deposits is evidenced by Linc Energy’s (ASX: LNC) project area in a similar basin margin stratigraphic setting, 120 kilometres to the east, with Indicated and Inferred Resources of thermal coal respectively of 161.4 million tonnes and 78.3 million tonnes.
To the south-east, on the eastern margin of the Galilee Basin, both Linc Energy and Waratah Coal have reported Inferred Resources of 326 million tonnes and 4.3 billion tonnes of thermal coal respectively.
BAC Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
