More like on track for at least 2.5bt JORC classified by end of the year. The initial target was and I believe still between 2.5bt to 3.5bt.
A little off topic but if my memory serves me correctly Metrocoal also have 340km2 of tenure in the Galilee Basin at Pentland (EPC1640), virtually next door to Linc Energy's EPC526/MDLA361 Pentland deposit (27km2).
Linc Energy's coal deposit has a JORC of 266mt and is open cut from previous presentations by Linc Energy this coal deposit is up for sale and they expect around $200 million for it. Guilford Coal is also in the area.
A railway line runs through both tenements to Townsville. Clearly this may be many years way from exploration but certainly not to be dismissed and certainly of some value.
Port of Townsville mulls coal export expansion
Of course DYOR, don't rely on what I'm saying. LOL.
:)
Nic
one for you to think about!, page-43
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