EER Thermal coal play
Cash: $800k
Shares: 356 mill shares
MC: $4.6b mill
BLACKALL COAL PROJECT The Blackall Project consists of three main coal resource areas. It is located immediately to the south of the township of Blackall in central western Queensland. These permits host a combined
JORC Total Coal Resource Estimate of 3.44 billion tonnes of thermal quality coal.
During the June 2016 quarter the Company continued assessing the development options for the coal resource within MDL 464 and the three EPCs covering the main body of the Blackall Project. The Board of Directors is monitoring further developments since the recent approval of Adani’s Carmichael Coal mine in the Galilee basin.
The rail line for the Carmichael project will provide a crucial link for the future transport of coal from the Blackall Project should it go ahead. All tenements remain in good standing with statutory obligations complied with and the necessary departmental reports lodged on time.
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Chart shows some spike, the first one is what i like to see, volume with hardly any SP movement, with earlier & after small but decent volume soaking.. Then the last spike although small, moved the SP higher as all the sellers have been taken out from past soaking.
I reckon judging by todays move, news is coming very soon 2-3 weeks.
