just announced by AFR all good worth reading the whole announcement.
HIGHLIGHTS:
Based on recent drilling of 42 holes showing thick coal seams at
the Sese coal prospect, the Company is preparing a programme of
resource delineation drilling.
The areal extent and consistent thickness of coal intersections to
date suggest an Exploration Target* of between 1.0 billion tonnes
and 1.5 billion tonnes of 4,000 kcal/kg to 5,000 kcal/kg raw coal
which may be amenable to low‐cost open pit extraction.
The Company is engaged in discussions with a number of parties
to secure a partner for funding the next stage of resource
development. Multiple expressions of interest have been received
for the acquisition of a 10‐20% minority stake in the coal project.
Market interest in Botswana coal assets highlighted by recent CAD
$450 million offer by an unnamed Indian company to buy CIC
Energy, a Canadian listed coal company with an unmined 1.9
billion tonne Measured and Indicated, predominantly
underground resource of thermal coal in eastern Botswana
Following recent test work on coal quality further analytical work
is underway to determine washing characteristics and coking
potential.
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