Possible partner perhaps ? yet if you listen to the recent BRR...

Possible partner perhaps ? yet if you listen to the recent BRR interview I get the impression they are focusing more on uranium rather than the coal at present.

Quote: In summary

They have been talking to potential partners, they still have no definitive resource number, require more drilling to substantiate this. Currently the calorific value of the coal is of reasonable quality with low ash & sulphur.

30 km strike length, av depth 10-12 mt thickness and at lower depth in comparison to other coal reserves in the area which are at greater depth with narrower seams. Coal is potentially extractable through relatively low stripping ratio & open pit mining.

They are after at some stage a project partner with relevant expertise , a party with experience in coal marketing & distribution. With the view of selling a small stake in the project 10-20 % and the possibility of farming in a higher equity position at a later date.
The project seems to being looked at as a MED -LONG TERM project of interest.

Recent interviews further suggest they are excited on future coal prospects yet seem to be more focused on increasing current uranium resource & to further increase potential mine life which would be favourable for the BFS .

In other words lets concentrate on what we know than what we dont ie coal. Get things done in order of priority rather than spread ourselves thinly.

Secondly if the extent of the coal resource is further identified in terms of increased resource value & economically viable to mine & sell. Shareholders will benefit allowing the company to have an equity position through joint venture rather than selling it off altogether allowing for further potential income.

I for one would very happy if this were to come to fruition considering what has already been identified, yet one step at a time !!


Technically it became a buy hence the increase from traders ,fundamentally though seems to be buy on rumour sell on fact scenario re prospective partner !!. Will wait and see.