new purchase

Company obviously taking advantage of bad times to make a few purchases which indicate that Waterberg could be quite impressive.
Nice coal result 120m thick commencing at 20 metres!!

Part of today's announcement:

The coal exploration permit covers an area of approximately 8,000 hectares of which portions closer to Waterberg No.1 are expected to provide a continuity of coal sequences existing in Waterberg No.1. Estimates of coal present will be known after confirmation drilling is undertaken during 2009.
It is envisaged that mining synergies may exist through amalgamation of the respective areas.
Purchase terms include a cash payment of US$1.5 million and a royalty of R30 million to be paid at R2/saleable tonne on coal produced from the Apex area.